Closing Arguments Sam Bankman-Fried Trial - Day 17
Nov 2, 2023
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Trial lawyers Nicholas Roos and Mark Cohen present closing arguments in the SBF trial, discussing key moments of alleged fraudulent behavior, the defense's claim of good faith, and analyzing the arguments made. Hosts reflect on the trial so far, anticipating the upcoming jury instructions.
The prosecution argued that Sam Bankman-Fried is primarily responsible for the fraud charges, as key witnesses directly implicated him in the fraudulent activities.
The defense focused on legitimate business reasons for certain features and decisions, emphasizing that Sam Bankman-Fried acted in good faith.
Deep dives
The Prosecution's Closing Arguments
The prosecution's closing argument focused on the main points of what happened, where the money went, and who was responsible. They emphasized that thousands of customers lost billions of dollars, which went towards real estate, marketing expenses, and venture investments. Ultimately, they argued that Sam Megman-Freed is primarily responsible for these actions, as the testimonies of key witnesses directly implicated him in the fraud charges.
Key Moments Highlighted by the Prosecution
The prosecution highlighted six key moments during the trial that they believed were crucial in proving Sam Megman-Freed's guilt. These moments include Sam's decision to buy back FTX stock from Binance, his allocation of funds for venture investments, his involvement in returning money to third-party lenders, the misleading balance sheets sent to lenders, his consideration of shutting down Alameda, and the false tweets sent to reassure customers. The prosecution argued that these moments demonstrated Sam's knowledge and involvement in fraudulent activities.
The Defense's Arguments
The defense argued that Sam Megman-Freed acted in good faith and did not believe he was doing anything wrong. They focused on legitimate business reasons for certain features and decisions, such as the 'allow negative' feature and the line of credit, that were meant to solve problems and better serve customers. The defense emphasized that the prosecution's portrayal of Sam as a movie villain, based on cosmetic details and lifestyle choices, was irrelevant to the case. They also highlighted inconsistencies among witnesses' testimonies, suggesting that this was not a clear-cut conspiracy but a complex series of events.
The Burden of Proof and Final Appeals by the Defense
The defense reminded the jury that the burden of proof rests on the prosecution to prove Sam's guilt beyond a reasonable doubt. They emphasized that Sam's life is in their hands and asked them to consider the evidence presented. The defense argued that if there is any doubt as to Sam's intentions and belief in his actions, he should be found not guilty. The defense closed with a plea for the jury to think of Sam, the human being behind the case, and the weight of their decision.
Closing arguments are upon us! We got over 6 hours of monologuing from Nicholas Roos + Mark Cohen, who made their final cases to the jury. Who won? Who scored points? What happens next?
We're breaking down everything you need to know about Day 17 of the SBF trial!