Surprisingly in the ongoing FTX fraud case, Sam Bankman-Fried’s lawyers have argued that he should have access to assets and cryptocurrencies belonging to his former company FTX, because there is no evidence of his involvement in previously suspected illegal activities. Sam Bankman-Fried, who stepped down as CEO of FTX on Nov. 11, 2022, is on bail for wire fraud and money laundering charges, to which he pleaded not guilty.
SBF is looking for FTX cryptocurrencies
After authorities provided evidence of illegal transactions from Alameda wallets, the conditions for Bankman-Fried’s release included banning access to all cryptocurrencies held by cryptocurrency exchange FTX and its trading arm, Alameda Research. This injunction also applies to cryptocurrencies that have been acquired with funds from FTX or Alameda.
Bankman-Fried’s attorney, Mark Cohen, sent a letter to the court on Jan. 28 stating that it has been about three weeks since the pre-trial conference and that the government investigation is alleged to have confirmed what SBF has been saying all along , i.e. it has not had access to these assets and has not transferred them. In addition, Cohen told Southern District of New York Judge Lewis Kaplan that the bail condition imposed on the conference should be dropped because the only justification offered for obtaining such a condition had not been proven.
Sam Bankman-Fried’s old friends?
Additionally, the U.S. Justice Department said in a document, filed Jan. 27, that Sam Bankman-Fried attempted to contact FTX chief legal officer Ryne Miller, who is a potential witness in the case. As an additional condition of bail, the Justice Department requested that a communication ban be imposed on Bankman-Fried. In his response, Cohen says he generally agrees with this restriction, but argues that Bankman-Fried should still be able to communicate with some former employees, such as his therapist George Lerner.
Cohen was quoted as saying:
Request Mr. Bankman-Fried to include an attorney in any communication with a former or current FTX employee would strain his resources and impair his ability to defend this case.
Furthermore, it has been said that a good number of these people were friends of Sam Bankman-Fried. Furthermore, the imposition of blanket restrictions on his ability to communicate with them would deprive him of an essential source of emotional and moral support.
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