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Gary Wang’s Testimony to Prove SBF Innocence in FTX Trial?

Published 10/11/2023, 04:30 AM
Updated 10/11/2023, 04:45 AM
Gary Wang’s Testimony to Prove SBF Innocence in FTX Trial?

  • Sam Bankman-Fried’s lawyers want to rely on FTX co-founder’s testimony to refute money laundering allegations.

  • Gary Wang testified last Thursday that FTX attorneys were involved in the structuring and execution of the loans he received.

  • The lawyers argue Bankman-Fried couldn’t have known the loans were improper because of the lawyer’s involvement.

A Monday filing revealed that Sam Bankman-Fried’s lawyers have approached the court to allow them to rely on FTX co-founder Gary Wang’s testimony in the ongoing trial to disprove claims that Bankman-Fried acted fraudulently. The lawyers want to use the evidence to counter money laundering charges against Bankman-Fried.

Gary Wang told government prosecutors that he relied on legal advice in securing about $200 – 300 million loan from hedge fund Alameda Research which he used to fund venture investments on behalf of FTX and secure a house in the Bahamas. Furthermore, he mentioned the involvement of FTX attorneys in structuring and executing the loans, which Bankman-Fried was aware of.

Wang stated that, due to his reliance on the lawyer’s involvement, he had no reason to smell foul play. Wang told prosecu…

The post Gary Wang’s Testimony to Prove SBF Innocence in FTX Trial? appeared first on Coin Edition.

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