Former FTX CEO Sam Bankman-Fried’s attorneys are planning to shift the blame to Fenwick & West LLP for the failed crypto exchange when his trial begins in October.
Lawyers of jailed Bankman-Fried submitted a letter saying they would plan to “elicit evidence” that the lawyer from Fenwick & West LLP and in-house counsel had participated in “reviewing and approving” certain decisions.
They plan to state that attorneys at the exchange gave Bankman-Fried advice on auto-delete policies and loans to FTX and Alameda Research, among other things, which assured him that he was “acting in good faith.”
The lawyer’s filing said, “Evidence of the defendant’s reliance on counsel is relevant to the question of intent and is not limited to situations where the defense can establish that the defendant formally sought out the advice of counsel, received legal advice, and followed the advice given.”
On Tuesday, Bankman-Fried came to court to plead not guilty to the latest superseding indictment against him, which included allegations of wire fraud and conspiracy.
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