Former FTX CEO Sam Bankman-Fried is set to take the stand in his own defense on Thursday in an effort to convince jurors he's not guilty.
After weeks of silence, speculation and surreal courtroom sketches, the disgraced former CEO of bankrupt crypto exchange FTX, Sam Bankman-Fried, is planning to testify in his own defense in a move that has courtroom watchers wondering just what his high-powered defense attorneys are thinking.
"Bankman-Fried's defense appears to be that he didn't intend to commit any fraud. He didn’t intend to deceive anyone. He didn’t intend to lie," Josh Naftalis, a former federal prosecutor and ex-assistant U.S. attorney for the Southern District of New York, told The Block. "His best option at this point … is to testify because that's the best way for him to show the jury what he was thinking.
Bankman-Fried's lawyer Mark Cohen confirmed on Wednesday that his client intended to testify starting Thursday. "It’s hard for defense lawyers to prove someone didn't intend to commit a crime unless they actually have the defendant say it," said Naftalis, who spent several years working as a prosecutor in the securities unit at the Southern District of New York.
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