Attorneys representing former FTX CEO Sam Bankman-Fried have submitted a letter to Judge Kaplan, requesting changes to the jury instructions in the ongoing trial. The defense attorneys are seeking for the jury to consider the role of English law in governing FTX’s terms of service. They argue that for misappropriation to have occurred, there must have been a trust, fiduciary relationship, or a similar relationship between FTX and its customers. However, the terms of service clearly state that no such relationship exists between the two parties.
The defense team’s proposal highlights the stance of English law on this matter, stating that the terms of service do not create a trust or fiduciary relationship between FTX and its customers. They also emphasize that any representations made after a customer agreed to the terms of service do not establish such a relationship. The defense attorneys argue that even if a customer subjectively expected or believed in the existence of a trust or fiduciary relationship, it does not create one under English law.
To support their argument, the defense team references several cases from the United Kingdom that provide precedent for their position. These examples aim to strengthen their plea for a not-guilty verdict for their client, Sam Bankman-Fried.
Throughout the course of the lawsuit, Bankman-Fried’s attorneys have made multiple requests to the judge. One of these requests includes seeking early bail before the trial, citing a lack of adequate amenities to prepare for the proceedings. However, most of their requests have been denied in the past.
Sam Bankman-Fried, the former FTX CEO, is currently facing charges of fraud and misappropriation of customer funds to finance personal expenses. Throughout the trial, he has consistently denied the allegations of misappropriation and fraud, proclaiming his innocence. Additionally, Bankman-Fried has previously been accused of witness tampering.
In summary, Sam Bankman-Fried’s defense team has submitted a letter to Judge Kaplan in the ongoing trial, requesting changes to the jury instructions. They argue that English law should be taken into account when considering FTX’s terms of service and the existence of a trust or fiduciary relationship between the company and its customers. They cite examples from UK cases to support their argument. Bankman-Fried’s attorneys have also made previous requests to the judge, which have largely been denied. The former FTX CEO is facing charges of fraud and misappropriation but maintains his innocence.
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