Former FTX Lawyer Cooperates With US Authorities in SBF Case (Report)

Daniel Friedberg – the former leading lawyer of crypto exchange FTX – has reportedly given vital information to American prosecutors that could help the authorities during the lawsuit against Sam Bankman-Fried.

The attorney is expected to appear in SBF’s trial in October to shed more light on the actions of the 30-year-old while being in charge of the bankrupt platform.

  • According to a recent Reuters report, Friedberg met with over 20 US investigators (officials part of the Justice Department, the Federal Bureau of Investigation, and the SEC) at the end of November last year.
  • He told them that Bankman-Fried used clients’ funds to finance his business conglomerate and explained how the sister company Alameda Research operated.
  • Freidberg is not under criminal investigation regarding playing a role in the demise of FTX and the consecutive multi-billion investor losses.
  • He expects to participate in SBF’s trial in October this year, where he could provide further information as a government witness.
  • Bankman-Fried spent a week in the Bahamian Fox Hill Prison before being deported to the United States. A New York federal judge allowed his release after a record $250 million bond, which is significantly more than the $100,000 he previously claimed he had in his bank account.
  • SBF recently pleaded not guilty to several accusations, including wire fraud and money laundering conspiracy, and now lives at his parents’ house, constantly having to a monitoring bracelet.
  • His trial date is set for October 2, 2023.

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newsby.top • 2022