SBF Seeks to Probe Lawyers’ Involvement in $200M ‘Sham’ Alameda Loans

SBF’s lawyers want to ask questions to Gary Wang in order to find alleged role of former-lawyers in $200M Alameda loans.
SBF Seeks to Probe Lawyers’ Involvement in $200M ‘Sham’ Alameda Loans
SBF Seeks to Probe Lawyers’ Involvement in $200M ‘Sham’ Alameda Loans

Before the second week of the trial begins, the attorneys for SBF want to interview Gary Wang, a co-founder of FTX, about his opinions of the legal counsel provided by Alameda attorneys.

The legal team for SBF reportedly filed a request to cross-examine Wang after questioning the co-founder of FTX about personal loans worth $200–300 million that he received from Alameda. Wang allegedly utilized these cash to invest in other businesses and buy a home in the Bahamas, according to Sam’s attorneys.

The attorneys have asked the court for permission to probe Wang further about his reliance on attorneys through this letter.

According to SBF attorneys, Mr. Bankman-Fried’s good faith and absence of criminal intent are “directly relevant” to Wang’s dependability on FTX lawyers about the loans. The letter also made note of Wang’s assertion that he trusted lawyers and would not be persuaded to sign anything that was against the law by them.

SBF had pleaded not guilty to fraud allegations that were brought against him, and now his legal team asserts that the presence of business lawyers in loan agreements indicates that his “loans were not improper.”

The second week of the court trial will begin on Tuesday, when Caroline Ellison, the ex-director of Alameda Research and girlfriend of SBF, will testify. After Caroline’s testimony, Gary Wang is anticipated to complete his testimony and respond to inquiries from the defense attorneys.

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