In the aftermath of the conviction of Sam Bankman-Fried (SBF), the 31-year-old cofounder of FTX, on seven counts of fraud and conspiracy, his defense attorney, Stanford Law School professor David Mills, has openly discussed the challenges faced during the trial.
Mills, who represented SBF as a personal favor to the defendant’s parents, characterized Bankman-Fried’s testimony on the stand as one of the worst cross-examinations he has witnessed.
Controversies in Bankman-Fried’s Trial
In a recent interview, Mills shed light on the difficulties encountered during the trial, emphasizing the challenging nature of SBF’s responses during cross-examination. The prosecution alleged that Bankman-Fried orchestrated a scheme at FTX, diverting customers’ funds to his crypto trading firm, Alameda Research, resulting in fraud and conspiracy charges.
“He may be at the very top of the list as the worst person I’ve ever seen do a cross-examination,” Mills told Bloomberg, acknowledging the unfavorable impact of SBF’s testimony on the case.
During the trial, Bankman-Fried’s responses were often meandering, prompting frustration from the judge who instructed him to answer questions directly. The defense faced additional setbacks as influential figures in the FTX saga, including Alameda Research CEO Caroline Ellison, FTX cofounder Gary Wang, and FTX engineering director Nishad Singh, testified for the prosecution, alleging that SBF was the mastermind of the fraudulent scheme.
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Defending Bankman-Fried in the FTX Trial
Mills expressed the difficulty of winning a case when multiple founders provide testimony against the defendant. “Even if they’re all lying through their teeth, it’s really, really hard to win a case like that,” he stated.
The attorney revealed that finding legal representation for Bankman-Fried posed initial challenges due to the negative public perception surrounding the FTX cofounder.
Mills described his client as “the most hated person on earth but not Donald Trump,” emphasizing the uphill battle in securing legal representation.
Bankman-Fried is scheduled for sentencing on March 28, 2024, facing a maximum sentence of 115 years.
The trial and its outcome have drawn significant attention within the cryptocurrency and legal communities, underscoring the complexities of navigating legal challenges in the rapidly evolving crypto industry.
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