Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, US, on Wednesday, July 26, 2023. Bankman-Fried faces a total of 13 counts ranging from conspiracy to commit wire fraud to conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act, and faces more than 155 years in prison if convicted of all of them – although any sentence is likely to be much lower if he is found guilty. Photographer: Victor J. Blue/Bloomberg
While FTX founder Sam Bankman-Fried’s decision to testify at his fraud trial could benefit him, white-collar attorneys on Wednesday also outlined the challenges he will face in addressing his prior public statements and other issues on cross-examination.
“A defendant testifying is a high-risk, high-reward proposition,” said Harry Sandick, a partner at Patterson Belknap Webb & Tyler and a former assistant U.S. attorney in the Southern District of New York.
Mark Cohen, attorney for Sam Bankman-Fried. Photo: Eduardo Munoz Alvarez/AP
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