In the ongoing legal battle between Sam Bankman-Fried (SBF) and Alameda, SBF’s legal team is seeking permission to investigate the alleged involvement of FTX lawyers in the issuance of $200 million in loans approved by Gary Wang.

Previously, a court ruling had prohibited SBF from blaming FTX lawyers for their alleged role in structuring and approving the loans. The judge ruled that SBF’s legal team would need permission to raise this issue during the trial.

After the prosecution cross-examined Gary Wang on October 9, SBF’s defense team now wants to question Wang about the alleged involvement of FTX counsel in the structure of loans issued by Alameda to FTX.

A letter filed on the same day highlighted the government’s questioning of Wang regarding personal loans from Alameda, which FTX used for venture investments. Wang also used some of the funds to purchase a home in the Bahamas. During the inquiry, Wang stated that either Bankman-Fried or FTX lawyers had presented him with loans that he was directed to sign.

SBF’s attorneys argue that the prosecution has already established the presence and involvement of FTX lawyers in structuring and executing the loans and intend to conduct their own line of questioning on the scope of FTX counsel involvement.

The defense team may also introduce promissory notes that memorialized the loans to counter the claim that these were sham loans used to conceal the source of funds. This is significant because Wang understood these loans to be legitimate and structured by lawyers.

SBF’s trial is being covered by Cointelegraph journalist Ana Paula Pereira, who reports on the defense’s attempts to portray Bankman-Fried as a young entrepreneur who made mistakes during the rapid growth of FTX and Alameda.

Summary:

SBF’s legal team is seeking permission to investigate the alleged involvement of FTX lawyers in $200 million in loans approved by Gary Wang for Alameda. A court ruling had previously barred SBF from blaming FTX lawyers for their role in the loans, but now the defense wants to question Wang about this alleged involvement. The defense team argues that the prosecution has already established the presence and involvement of FTX lawyers and may introduce promissory notes to counter the claim that the loans were sham.

FAQs:

What is SBF seeking permission for?

SBF’s legal team is seeking permission to investigate the alleged involvement of FTX lawyers in $200 million in loans approved by Gary Wang for Alameda.

Why was SBF previously barred from blaming FTX lawyers?

A court ruling had previously prohibited SBF from blaming FTX lawyers for their role in the loans.

What is SBF’s defense team arguing?

The defense team argues that the prosecution has already established the involvement of FTX lawyers in the loans and may introduce promissory notes to counter the claim that the loans were sham.

What is being portrayed in the trial coverage?

The trial coverage is portraying Bankman-Fried as a young entrepreneur who made mistakes during the rapid growth of FTX and Alameda.