{"id":24024,"date":"2023-10-17T01:20:42","date_gmt":"2023-10-17T01:20:42","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/day-nine-highlights-in-sam-bankman-frieds-trial\/"},"modified":"2023-10-17T01:20:42","modified_gmt":"2023-10-17T01:20:42","slug":"day-nine-highlights-in-sam-bankman-frieds-trial","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/day-nine-highlights-in-sam-bankman-frieds-trial\/","title":{"rendered":"Day Nine Highlights in Sam Bankman-Fried\u2019s Trial"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>On October 16, the courtroom drama surrounding United States v Sam Bankman-Fried, known as SBF, marched into its ninth day. Federal prosecutors continued their narrative by bringing in the remaining government witnesses to the stand. Among those were key figures like Caroline Ellison and Gary Wang, once close confidants of SBF.<\/p>\n<h2><strong>Proceedings Kick Off<\/strong><\/h2>\n<p>The initial phase of Bankman-Fried\u2019s criminal trial has been spotlighted by testimonies from ex-employees, painting SBF as the mastermind behind the alleged misuse of FTX customer funds and deception of investors.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>177% up to 5BTC + 77 <strong> Free Spins<\/strong>!<\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2><strong>SBF\u2019s Public Image<\/strong><\/h2>\n<p>The court learned about Bankman-Fried\u2019s lavish spending aimed at crafting a positive public image. Allegations also surfaced regarding bribes to Chinese officials, further tarnishing SBF\u2019s reputation.<\/p>\n<h2><strong>Defense\u2019s Request<\/strong><\/h2>\n<p>Before the day\u2019s trial commenced, defense lawyers filed a request for additional doses of Adderall for Bankman-Fried. They argued the FTX founder needed this to aid his concentration, potentially preparing him to take the stand.<\/p>\n<h2><strong>Tareq Morad\u2019s Testimony<\/strong><\/h2>\n<p>The courtroom heard from Tareq Morad, an FTX retail user. His trust in the platform was cemented by Bankman-Fried\u2019s appearances in mainstream media, which, in retrospect, Morad saw as a facade for legitimacy.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2><strong>Alameda\u2019s Political Agenda<\/strong><\/h2>\n<p>A striking testimony came from Nishad Singh, once an Alameda and FTX developer. His revelations included:<\/p>\n<ul>\n<li>Bankman-Fried\u2019s extravagant spending on endorsements and real estate.<\/li>\n<li>Loaning of funds to executives for political donations, orchestrated meticulously by SBF and his cohorts.<\/li>\n<\/ul>\n<h2><strong>Michael Kives and Celebrity Engagements<\/strong><\/h2>\n<p>Singh dived into the engagements with Michael Kives\u2019 consultancy firm K5 Global and the billion-dollar funding from Alameda Research and FTX. Noteworthy was the sum of $1.3 billion spent on celebrity endorsements such as Tom Brady, Larry David and Kevin O\u2019Leary for example, revealing a spree to buy popularity.<\/p>\n<h2><strong>Technical Deceits<\/strong><\/h2>\n<p>According to Singh, under SBF\u2019s and Wang\u2019s directives, he coded an \u201callow negative\u201d feature to access locked FTT tokens, a move he later realized was inappropriate.<\/p>\n<h2><strong>Political Donations Scheme<\/strong><\/h2>\n<p>Singh shed light on a covert political donation system, steered by SBF, his brother Gabriel, and Ryan Salame. This trio funneled loans through FTX.US to various political campaigns, keeping a tight record of these transactions.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2><strong>Singh\u2019s Disturbing Recollections<\/strong><\/h2>\n<p>Delving into the period post-Alameda\u2019s leaked balance sheet till the bankruptcy news broke out, Singh recounted his discomfort with the misleading narratives being spun within FTX\u2019s top brass.<\/p>\n<h2><strong>Adjournment Denied<\/strong><\/h2>\n<p>The defense sought to adjourn the trial till October 19, pending additional Adderall for SBF. However, Judge Lewis A. Kaplan decided to stick to the daily hearing schedule, dismissing the request for medication expediting.<\/p>\n<p>Through these unfolding testimonies and defense maneuvers, the ninth day of SBF\u2019s trial depicted a convoluted web of allegations and financial entanglements, adding more shades to the complex narrative that is United States v Sam Bankman-Fried.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/day-nine-highlights-in-sam-bankman-frieds-trial\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) On October 16, the courtroom drama surrounding United States v Sam Bankman-Fried, known as SBF, marched into its ninth day. Federal prosecutors continued their narrative by bringing in the remaining government witnesses to the stand. Among those were key figures like Caroline Ellison and Gary Wang, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24024"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24024"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24025"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}