Unchained Why the Legal Process for FTX and Sam Bankman-Fried Could Take Years - Ep. 430
Dec 9, 2022
TuongVy Le, partner and head of regulatory & policy at Bain Capital Crypto, sheds light on the legal intricacies surrounding Sam Bankman-Fried and the FTX collapse. They discuss allegations of market manipulation during the Terra crash and interrogate Bankman-Fried's motivations for his media appearances. The conversation reveals why key legal choices, like hiring Mark Cohen, may forecast the potential charges. Additionally, they explore the involvement of Bahamian officials and how this complicates the case, setting it apart from historical fraud examples.
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Terra Luna Investigation
- The Manhattan prosecutor's office is investigating Bankman-Fried for market manipulation during the Terra Luna crash.
- This involves investigating whether he artificially influenced Terra's price, potentially constituting fraud.
SBF's Media Strategy
- Bankman-Fried's media appearances aim to shape the narrative around FTX's collapse.
- He portrays the situation as a result of mistakes, market downturns, and bank runs rather than intentional fraud.
Choice of Lawyer
- Bankman-Fried hiring Mark Cohen, Ghislaine Maxwell's lawyer, suggests he anticipates serious criminal charges.
- Cohen's expertise in white-collar crime and federal cases signals a potential trial strategy.