SBF's lawyer requests the judge to investigate the $200 million Alameda fraud loan involving FTX co-founder

2023-10-10 16:20:02

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According to ChainCatcher news and a report by CoinDesk, based on a legal document, FTX founder Sam Bankman-Fried (SBF)'s lawyers want to ask FTX co-founder Gary Wang whether he relied on legal advice when agreeing to a series of loans to the affiliated hedge fund Alameda Research. Prosecutors have been investigating the approximately $200 million to $300 million in loans Gary Wang received from Alameda Research, which he used for venture investments and to purchase a house for himself in the Bahamas. SBF believes that the involvement of lawyers indicates he was unaware that the company loans were improper, and thus requests Judge Lewis Kaplan to allow questioning Gary Wang on this matter.

Gary Wang is expected to complete his testimony later on Tuesday, followed by former head of Alameda Research and SBF's ex-girlfriend Caroline Ellison. Both Gary Wang and Caroline Ellison have pleaded guilty and are cooperating with investigators.

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Latest developments in the SBF trial are being continuously tracked.

After being detained for 9 months and 20 days, FTX founder Sam Bankman-Fried officially appeared in court on October 3, and witnesses began to testify, attempting to uncover the various mysteries behind FTX and SBF...

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