Sam Bankman-Fried, former chief executive of the bankrupt FTX exchange, appeared in a courtroom on February 21, 2024. Reuters reports confirmed his decision to bring in new legal representatives.
It is noted that Bankman-Fried has replaced his former attorneys, Mark Cohen and Christian Everdale, with Mark Mukasey for sentencing on March 28, 2024.
During a brief court hearing, SBF expressed its willingness to assemble a new legal team and showed no concerns about potential conflicts of interest in connection with Alex Mashinski's lawsuit. Notably, Mark Mukasey as well as Torrey Young will be defending the former CEO of digital currency lender #Celsius in the lawsuit.
#Bankman-Fried allegedly referred to Celsius as "an entity with which he had a business relationship." He confirmed he has discussed potential conflicts of interest with Cohen and Everdale and plans to continue working with the new lawyer.
Investment firm #Alameda Research reportedly used misappropriated FTX client funds to repay debts owed to Celsius. Prosecutors later indicated that Bankman-Fried and Mashinsky may hold different views on whether Celsius was defrauded and deserved to be compensated.
Throughout the trial, SBF has disclosed that he continues to take antidepressants and Adderall, a medication to treat attention deficit hyperactivity disorder. In September 2023, the former FTX CEO admitted that he has long struggled with depression.
As a reminder, Sam Bankman-Fried is currently in custody at the Brooklyn Metropolitan Detention Center (MDC) awaiting a final court order. A subsequent hearing is scheduled for March 28, 2024.
On November 2, the jury reached a verdict in the lawsuit filed by the former CEO of #FTX. The court found Sam Bankman-Fried guilty on all seven counts. SBF had previously argued that he did not engage in fraudulent acts against the exchange's customers.
