FTX Customers, Investors Will Testify Against Sam Bankman-Fried, DOJ Says

The customers and investors who owned FTX shares can speak to their expectations of how FTX would hold their funds, while the cooperating witnesses can speak to"their interactions with the defendant and their understanding of the purpose of certain statements and actions of the defendant,""In each of these cases, the anticipated testimony about how the witnesses understood their relationship with the defendant and his companies, and their interpretation of statements made by the...

The DOJ intends to call retail customers who"transferred tens of thousands of dollars worth of assets" and institutional clients who moved"tens of millions of dollars worth of assets" to FTX, with the expectation that the exchange would custody these funds, the letter said. The letter did not identify any of the prospective witnesses or say how many the DOJ intends to call. A second letter said the customer witnesses are likely to testify for less than 30 minutes each"and will involve minimal, if any, exhibits.

The DOJ is asking the judge to approve testimony via video conference, supervised by a U.S. government official possibly at the embassy, instead of requiring in-person testimony. The defense does not agree to the motion, the DOJ said. "To obtain likely less than 30 minutes of testimony from overseas FTX customer witnesses, however, requires, for at least some countries, coordinating with local authorities, arranging multi-day travel itineraries to accommodate varying time changes and travel delays, and incurring significant costs associated with such arrangements.

Source: Law Daily Report (lawdailyreport.net)

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