Defense Attorneys Argue for Consideration of English Law in FTX's Terms of Service
The attorneys representing former FTX CEO Sam Bankman-Fried have submitted a letter to the judge requesting changes to the jury instructions in his fraud case. The defense team is urging the 12 jurors to take into account the role of English law in governing FTX's terms of service.
Importance of Trust Relationship Highlighted
The defense attorneys argue that for misappropriation to have occurred, there must have been a trust, fiduciary relationship, or a similar relationship between FTX and its customers. However, the terms of service clearly state that no such relationship exists. The attorneys emphasize that under English law, agreements made after agreeing to the terms of service also do not create a trust relationship or similar fiduciary relationship.
Precedent from UK Cases Cited
In their proposal, the defense team references several cases from the United Kingdom to support their argument for a not-guilty verdict. These examples provide additional context and legal precedent that they believe should be considered in the trial.
Request for Bail and Lack of Amenities
Bankman-Fried's attorneys have previously made multiple requests to the judge, including requests for early bail, citing a lack of adequate amenities to prepare for the trials. However, most of these requests have been denied.
Bankman-Fried Denies Misappropriation and Fraud
The former FTX CEO is currently facing charges of fraud and misappropriation of customer funds. Throughout the trial, Bankman-Fried has maintained his innocence, denying any misappropriation of funds and claiming that he has not defrauded his customers. He has also faced allegations of witness tampering in the past.
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