Judge blocks Bankman-Fried’s attempt to obtain key documents in fraud prosecution: Report
Sam Bankman-Fried, the co-founder of FTX, has been denied his request to obtain documents from a Silicon Valley law firm, Fenwick & West LLP, as part of his defense strategy in his ongoing federal fraud case, Bloomberg reported. Bankman-Fried had hoped to use thes documents to support his claim that he relied on legal advice while engaging in the activities for which he is currently facing prosecution.
In a recent development, Bankman-Fried’s legal team approached the judge overseeing the case, urging the prosecution to hand over the documents obtained from Fenwick & West or to allow them to be obtained directly through a subpoena. However, U.S. District Judge Lewis Kaplan dismissed the request, calling it a "fishing expedition” that would not be justified.
In preparation for his defense, Bankman-Fried’s legal team had planned to argue that he had relied on the advice provided by the law firm Fenwick & West. Bloomberg noted that this strategy is often employed by criminal defendants to counter prosecutors’ claims of intentional lawbreaking.
The counsel from Fenwick & West reportedly covered various topics, including the use of encrypted messaging apps, multimillion-dollar loans to FTX executives and compliance with United States banking regulations, which Bankman-Fried’s lawyers have argued are integral to the charges leveled against their client.
Related: US lawmaker demands answers from SEC on docs related to Sam Bankman-Fried’s arrest
Bankman-Fried, who is facing two criminal trials, has been accused of orchestrating a complex fraud scheme involving the misappropriation of billions of dollars in FTX customer funds. The funds were allegedly used for high-risk investments, personal expenses and even political
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