Sam Bankman-Fried, the former CEO of FTX, alleges that prosecutors have failed to deliver key evidence within the specified discovery timelines for his defense against numerous fraud charges. His lawyers communicated this concern to United States District Judge Lewis A.
Kaplan in a letter on June 5, stating that the government had not disclosed all contents from five electronic devices due by the end of March. These devices include a laptop and iPhone belonging to ex-Alameda Research CEO Caroline Ellison and a laptop owned by FTX co-founder Gary Wang.
With the trial date slated for Oct. 2, the defense expressed worries over the delayed provision of significant and substantial discovery material potentially affecting trial preparations.
Bankman-Fried faces charges of fraud, illegal political contributions, and alleged bribery to the Chinese government. He does not wish to postpone the trial, but additional motions might be filed if the newly discovered evidence necessitates it.
The defense letter also pointed out that the government has yet to provide information concerning FTX debtors. The letter indicated that this delay has a compounding effect on the defense’s trial preparedness. The evidence thus far is enormous, with five productions totaling over 3.6 million documents and over 10 million pages.
Amid these legal proceedings, FTX bankers, tasked with rescuing the troubled company, are said to be contemplating selling shares in a company within the burgeoning artificial intelligence sector. On June 6, Semafor reported that Perella Weinberg, an investment banking firm assisting the bankrupt exchange, has been promoting the sale of hundreds of millions of dollars of shares in AI startup Anthropic to potential investors. As per FTX balance sheets from its November 2022 bankruptcy, the company held $500 million worth of Anthropic stock, which is expected to be much more valuable given the current AI boom.
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