Former FTX CEO Sam Bankman-Fried Addresses Lawyer-Related Conflicts in Rare Court Appearance
Summary:
Former FTX CEO, Sam "SBF" Bankman-Fried appeared in court to address conflicts interest in his legal representation. Bankman-Fried and ex-Celsius CEO Alex Mashinsky waived their right to conflict-free legal counsel with lawyers Marc Mukasey and Torrey Young. Christian Everdell and Mark Cohen, who represented Bankman-Fried at his criminal trial in October 2023, will withdraw, while Mukasey and Young will continue representing the defendants. After stepping down as CEO of FTX in November 2022, Bankman-Fried was later convicted of fraud. Sentencing is set for March 28.
In one of his rare appearances since his conviction, Sam "SBF" Bankman-Fried, the former Chief Executive Officer of FTX, landed back in the court to discuss probable lawyer-related conflict of interest issues. Inner City Press' report on 21st February confirmed that Bankman-Fried waived his entitlement to conflict-free legal counsel, with his attorneys Marc Mukasey and Torrey Young. Both lawyers registered their representation for not only SBF but also Alex Mashinsky, the ex-CEO of Celsius, who made a similar move in a hearing on 20th February.
The sighting of Bankman-Fried at the United States District Court for the Southern District of New York, one of the initial few post his conviction, highlighted his life outside prison since a jury nailed him guilty of seven felonies back in November 2023. While his ongoing prison stint remained largely unpublicized, photos emerged on 19th February capturing SBF amongst fellow prisoners.
Inner City Press commented that Mukasey and Young will carry on representing SBF along with Mashinsky. On the other hand, Christian Everdell and Mark Cohen – who stood for the ex-FTX CEO during his criminal trial in October 2023 – would step back. The court schedules the sentencing of Bankman-Fried for 28th March, under Judge Lewis Kaplan's discretion.
Bankman-Fried was previously seen as the 'Golden Boy' of the crypto industry until his tenure as CEO of FTX, which ended in November 2022. The company filed for bankruptcy and SBF was taken into Bahamian custody, awaiting extradition to the US. He was later indicted and found guilty over fraudulent activities linked to fund management between FTX and Alameda Research.
Following his trial in October 2023, SBF was anticipated to face five more felony charges come March. However, December updates hinted the prosecutors may abandon the second trial, bearing public interest in mind. The defense team for Bankman-Fried is slated to propose sentencing recommendations by 27th February.
Published At
2/21/2024 11:57:47 PM
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