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Latest on SBF vs US DoJ: Jury instructions for October trial gets filed

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FTX founder “SBF” and the U.S. Department of Justice have filed their separate sets of jury instructions for the October trial.

FTX SBF

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  • The DoJ told the court that the government requests to charge SBF under seven different counts.
  • SBF said his actions were honest mistakes in judgment and faults of management, instead of crimes.

On 21 August, Sam Bankman-Fried (SBF), the founder of the bankrupt crypto exchange FTX, and the U.S. Department of Justice (DoJ) filed their separate sets of jury instructions for the trial set in October.

The DoJ’s filing mentioned the U.S. government’s requests to charge SBF under seven different counts. These charges include conspiracy to commit wire, securities, and commodities fraud, in addition to money laundering. SBF has pled not guilty.

The DOJ’s proposed jury instructions also stated that jurors must take note of certain things. Such as- there was a scheme to defraud, the defendant “knowingly and willfully participated” in said scheme, and the defendant used interstate wires.

The filing concludes,

“The Government respectfully requests that the Court close by instructions the jurors regarding the selection of a foreperson, communications with the Court during deliberations, provisions of copies of the Indictment and jury charge, and the procedures regarding requests for particular exhibits or testimony.”

SBF’s filing said he may argue that he acted in good faith. The filing also suggests that SBF’s actions were honest mistakes in judgment and faults of management, instead of crimes. It also added that crypto, as an unregulated entity, falls in a gray area.

No respite in sight for crypto heavyweight

SBF’s counsel had previously requested that he be allowed to access two internet-enabled laptops and two WiFi-enabled devices from conference rooms within the U.S. Attorney’s Office in the courthouse every weekday.

The ex-FTX CEO was arraigned on 22 August. He pleaded not guilty to all the seven charges, the Inner City Press reported.

The judge allowed some of these requests. SBF could meet with his counsel in the U.S. Marshals Service’s attorney room from 8:30 am- 3:00 pm ET on 22 August. However, the number of laptops and WiFi-enabled devices remained limited to one apiece.

After Judge Kaplan revoked SBF’s bond on 11 August, he was sent to jail. The judge ruled that the former FTX CEO violated his bail conditions by contacting FTX.US general counsel Ryne Miller and sharing former Alameda Research CEO Caroline Ellison’s diary with the New York Times.

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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