1 year ago
Sam Bankman-Fried's attorneys are trying again to person the assemblage overseeing his proceedings see the relation of English instrumentality successful governing FTX's presumption of service, hoping it whitethorn pb to a "not guilty" verdict connected immoderate of the fraud charges the speech laminitis faces.
"For misappropriation to person occurred, nether the Government’s theory, determination indispensable person existed a trust, fiduciary relationship, oregon a akin narration betwixt FTX and its customers," a filing including a projected assemblage acquisition said.
The projected assemblage acquisition would archer the 12 individuals deciding Bankman-Fried's destiny that "FTX's narration with its customers was governed by the Terms of Service," which successful crook are "governed by ... English law." An additional set of filings supply illustration cases from the U.K.
"Under English law, the Terms of Service bash not make a spot narration oregon akin fiduciary narration betwixt FTX and its customers. Nor, nether English law, bash immoderate representations made aft a lawsuit agreed to the Terms of Service make a spot narration oregon akin fiduciary relationship," the filing suggested Judge Lewis Kaplan said. "The specified information that a idiosyncratic subjectively expected, understood oregon believed that a trust, fiduciary relationship, oregon akin narration existed does not make specified a relationship."
Defense lawyer Mark Cohen had erstwhile FTX General Counsel work a portion of the presumption of work successful tribunal earlier this month, which said, "The presumption and immoderate quality shall beryllium governed by, and construed successful accordance with, English law."
The Department of Justice hadn't responded to the newest filing arsenic of 10:30 p.m. EDT. Still, a erstwhile filing opposing 1 of Bankman-Fried's projected adept witnesses made it wide that prosecutors judge focusing strictly connected the wording of the Terms of Service and their exertion nether English instrumentality misconstrues their charge.
"It is legally incorrect to connote to the assemblage that its absorption should beryllium solely connected the presumption of work ... alternatively than connected the afloat scope of the defendant’s misrepresentations and misleading conduct," the DOJ's Aug. 28 filing said.
Bankman-Fried's past statements and "the communal knowing of cryptocurrency customers" are applicable successful summation to the terms, that filing said. During the FTX founder's trial, prosecutors person asked FTX customers and Bankman-Fried to sermon the exchange's selling and what that whitethorn person meant for customers much broadly.
Judge Kaplan has told the parties that helium intends to clasp a assemblage complaint league – which volition fto the parties reason implicit their assorted competing assemblage acquisition proposals – aft they some rest, which whitethorn hap arsenic soon arsenic Wednesday. Bankman-Fried took the basal past week, and is presently going done a cross-examination, which the DOJ expects to wrapper up Tuesday morning.
English (US) 