SBF's criminal trial on fraud and conspiracy charges begins Wednesday (October 4) at 12:30 p.m. New York time. Assistant U.S. Attorney Nathan Rehn told the 12-member jury that the government will present evidence and expert witnesses to prove that the former crypto tycoon "defrauded his clients" and used their funds to buy himself "money, power and influence”.
U.S. prosecutors reiterated on October 4 that the existing legal framework was sufficient to charge SBF with fraud-related violations. The Ministry of Justice rejected SBF's previous argument that "the apparent lack of relevant laws or guidance is directly related to whether the alleged use of customer deposits constitutes misappropriation, rather than permitted business conduct." The Ministry of Justice added that although the existence of the law may be related to the establishment of The statutory duty of care was relevant, but the lack of supervision was irrelevant as to whether the victim entrusted the defendant with money for safekeeping.
On October 5, the U.S. Department of Justice (DOJ) stated in the opening statement of the trial of FTX founder SBF that SBF’s entire cryptocurrency empire was a “house of cards built on lies.”
SBF's defense attorneys argued in their opening statements that SBF, the founder of FTX and Alameda Research, never intended to steal clients' funds — he was simply overwhelmed by the explosive growth of both businesses and that SBF acted in good faith and did not defraud anyone.
#注意资金安全 #A9社区
U.S. prosecutors reiterated on October 4 that the existing legal framework was sufficient to charge SBF with fraud-related violations. The Ministry of Justice rejected SBF's previous argument that "the apparent lack of relevant laws or guidance is directly related to whether the alleged use of customer deposits constitutes misappropriation, rather than permitted business conduct." The Ministry of Justice added that although the existence of the law may be related to the establishment of The statutory duty of care was relevant, but the lack of supervision was irrelevant as to whether the victim entrusted the defendant with money for safekeeping.
On October 5, the U.S. Department of Justice (DOJ) stated in the opening statement of the trial of FTX founder SBF that SBF’s entire cryptocurrency empire was a “house of cards built on lies.”
SBF's defense attorneys argued in their opening statements that SBF, the founder of FTX and Alameda Research, never intended to steal clients' funds — he was simply overwhelmed by the explosive growth of both businesses and that SBF acted in good faith and did not defraud anyone.
#注意资金安全 #A9社区