SBF, the defendant in a high-profile white-collar criminal case, is set to take the stand and testify in his defense. While it is typically advised for defendants to remain silent and invoke the 5th Amendment, SBF aims to convince the jury that he acted in good faith. This move goes against the traditional strategy observed in similar cases, where defendants opt to avoid self-incrimination. However, there have been recent instances, like that of Elizabeth Holmes, where defendants have chosen to testify.
In a recent conference call between SBF’s lawyers, Judge Kaplan, and the prosecution, it was decided that the defense’s testimony would begin on October 26th, following the prosecution’s closing statements. Although there were hopes that the trial would conclude by the following Monday, this seems unrealistic due to the potential need for cross-examination. SBF’s attorney, Mark Cohen, informed Judge Kaplan that the defense plans to call three witnesses, including SBF himself. Cohen revealed that SBF’s testimony is expected to take up a similar amount of time as the testimonies from his former colleagues. The other witnesses include a Bahamas-based attorney, an individual knowledgeable about the responsibilities at FTX, and a securities litigation consultant. SBF’s testimony is seen as a last-ditch effort to convince the jury that the collapse of the FTX Empire was a result of circumstances spiraling out of control without any ill intentions. Nevertheless, SBF’s previous contentious statements raise doubts about how his testimony will be received. In this particular case, SBF’s fate will be determined by a special verdict, where the Judge draws legal implications from the jury’s answers. SBF’s defense strategy includes placing the blame on his legal team and the representation provided to him and his empire.
Image: http://financeiro.news/wp-content/uploads/2023/10/sbf11.png
Comments are closed.