Bankman-Fried’s Desperate Bid For Legal Help Thwarted By US Judge

Key Points:

• FTX founder Bankman-Fried’s subpoena request denied by US judge.
• Law firm Fenwick & West cannot be compelled to produce documents.
• The law firm provided advice on issues at the core of the US government’s allegations against Bankman-Fried.

According to a court judgment issued on Friday, Sam Bankman-Fried’s request to subpoena law firm Fenwick & West as part of his criminal defense was denied.

Judge Lewis A. Kaplan of the United States District Court for the Southern District of New York refused Bankman-Fried’s plea on Friday, stating that neither Fenwick & West nor the FTX Debtors are members of the “prosecution team.” The government is under no responsibility to provide materials that are not in its ownership, custody, or control, according to the decision.

A New York District Court Judge refused Bankman-Fried, the founder of cryptocurrency exchange FTX, his request to subpoena law firm Fenwick & West as part of his criminal defense. The judge’s decision implies that the US government is not required to release any papers given by the legal firm, and they are no longer in their custody, possession, or control.

In a May court filing, the creator of crypto company FTX claimed that he relied on assistance from a Silicon Valley legal firm on many of the problems that are now at the heart of the US government’s charges against him. Bankman-Fried noted creating a North Korean bank account and using auto-deleting Signal communications as instances of legal advice he’d followed.

He attempted to persuade US prosecutors to turn over papers provided to the government by the legal firm or to get a court order subpoenaing Fenwick & West LLP for the same materials.

The company has lately come under additional attention, with rumors claiming that the legal firm Gibson, Dunn & Crutcher has been engaged to assist Fenwick & West in dealing with the ramifications of its partnership with FTX.

Ultimately, the judgment underlines the difficulties that Bankman-Fried will have in defending himself against criminal allegations. It also emphasizes the significance of seeking legal counsel from a reputable law firm that knows the complexity of cryptocurrencies and can provide good advice on how to operate in this fast-changing environment. The criminal prosecution of Bankman-Fried is scheduled to commence later this year.

Find out more information about Sam Bankman-fired at Coincu.

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Harold

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