Sam Bankman-Fried lawyers pitch for changes to judge’s jury instruction

The attorneys representing former FTX CEO Sam Bankman-Fried have written another letter to the judge, seeking changes to the jury instructions; in the letter addressed to Judge Kaplan, the defense attorneys requested that the jury consider the role of English law in governing FTX’s terms of service.

The proposal calls on 12 jurors in the case to consider that for misappropriation to have occurred, there must have existed a trust, fiduciary relationship, or a similar relationship between FTX and its customers. However, the firm’s terms of service have made it clear that there was no such relationship between the two parties.

The defense attorneys’ proposal read:

“Under English law, the Terms of Service do not create a trust relationship or similar fiduciary relationship between FTX and its customers. Nor, under English law, do any representations made after a customer agreed to the Terms of Service create a trust relationship or similar fiduciary relationship.” 

They added: “if a person subjectively expected, understood or believed that a trust, fiduciary relationship, or similar relationship existed, does not create such a relationship.”

The defense team cited several examples of other cases from the United Kingdom in a last bid for a not-guilty verdict for their client.

Related: Michael Lewis’ new book puts a positive spin on Sam Bankman-Fried

Sam Bankman-Fried’s attorneys, over the course of the lawsuit, have made several requests to the judge, including numerous requests for early bail before the trial citing a lack of adequate amenities to prepare for the trials. However, most of their requests have been declined in the past.`

The former FTX CEO is currently facing multiple charges of fraud and misappropriation of customer funds to finance his personal expenses. SBF, over the course of his trial, has denied misappropriation of funds and claimed he hasn’t defrauded his customers. In the past, Bankman-Fried was also accused of witness tampering.

Magazine: SBF trial underway, Mashinsky trial set, Binance’s market share shrinks: Hodler’s Digest, Oct. 1–7