Anthony Scaramucci says SBF will “get skinned alive” at trial

• The U.S. government is set to conclude its case against Bankman-Fried on the morning of 26 October.
• Scaramucci emphasized that SBF’s prospects of outsmarting the prosecutors are unlikely.

In a recent interview on CNBC’s “Last Call,” Anthony Scaramucci, the founder of SkyBridge Capital, expressed his belief that Sam Bankman-Fried (SBF), the former CEO of FTX [FTT], will “get skinned alive” when he takes the stand in his criminal case.

Scaramucci suggested that the United States Department of Justice (DOJ) prosecutors will grill Bankman-Fried’s defense. They may highlight contradictions that could potentially result in an extended prison sentence.

He emphasized that Bankman-Fried’s prospects of outsmarting the prosecutors are unlikely, given their extensive experience in such cases.

Bankman-Fried was once regarded as a congenial and philanthropic figure, known for his intentions to donate a substantial portion of his wealth. However, the testimony provided by former FTX executives during the legal proceedings has painted a different picture, revealing elements of malevolence and financial misconduct.

Scaramucci’s perspective on Sam Bankman-Fried has transformed over time. In a previous interview in January, Scaramucci had likened Bankman-Fried to the “Mark Zuckerberg of crypto” before allegations emerged regarding the misappropriation of customer funds.

Scaramucci’s outlook on the trial is stark, indicating that Bankman-Fried’s decision to testify may not bode well for him. He suggests that it could prove to be a grave mistake for the former crypto entrepreneur.

SBF to step up to the podium to testify

SBF’s attorney, Mark Cohen, announced that Bankman-Fried would testify as part of his defense case. This announcement came during a 25 October telephone conference involving SBF’s legal team, prosecutors, and Judge Lewis Kaplan.

Following the completion of the prosecution’s case presentation on 26 October, Bankman-Fried’s defense team intends to call three witnesses, including SBF himself, to the stand.

The United States government is set to conclude its case against Bankman-Fried on the morning of 26 October.

Defense attorneys are likely to complete their presentation the following day. Closing arguments in the trial could take place before 31 October.

Judge Kaplan raised the possibility of considering a special verdict in the case. A special verdict is one where “the jury gives its findings on factual issues in the case, without necessarily stating which party should win,” according to Cornell Law School’s Legal Information Institute.

The potential testimony of Bankman-Fried will follow the statements made by former FTX and Alameda executives, including Caroline Ellison, Gary Wang, and Nishad Singh. The trial has been on hiatus since 19 October but is expected to resume on 26 October.