Former FTX CEO, Sam Bankman-Friedclaims prosecutors have missed deadlines for submitting key evidence required to defend a series of fraud charges.
They included a laptop and an iPhone belonging to Caroline Ellisonformer CEO of Alameda Research, and a laptop belonging to Gary Wang, co-founder of FTX.
According to the letter from Bankman-Fried’s lawyers:
“As the trial date is less than four months away, the defense is concerned that the late submission of such voluminous and important evidence will affect defense preparation.”
Bankman-Fried must appear Before the court on October 2 for a litany of fraud charges, allegations of illegal political donations and bribery to the Chinese government. Bankman-Fried does not want to postpone the trial date and, according to the letter, it is possible to file new petitions “if the new information provided gives rise to new petitions.”
The letter goes on to say that the government has also not submitted any information related to FTX debtors.. “These late productions have a cumulative effect on the defense’s ability to properly prepare for trial,” she said, before revealing how much is missing:
“The five productions so far are voluminous, with a total of more than 3.6 million documents and more than 10 million pages.”
The first four productions included around 1.1 million documents and the last one, received by the defense on May 25, includes just under 2.5 million documents. “That more than triples the documents on existing discovery.”
For his part, FTX bankers, tasked with bailing out the struggling company, may be thinking of selling shares in a company that is part of the booming artificial intelligence sector.
On June 6, traffic light reported that Perella Weinberg, the investment banking firm hired by the bankrupt exchange, has been “hinting at the sale of hundreds of millions of dollars worth of shares” of artificial intelligence firm Anthropic to potential investors.
According to FTX’s balance sheets at the time of its bankruptcy in November 2022, the company owned $500 million worth of Anthropic stock.which are estimated to be worth much more now that the AI boom is in full swing.
Anthropic raised $450 million in its latest Series C funding round on May 23, at a reported valuation of $4.6 billion..
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