After much speculation, the former FTX CEO will be one of only a handful of witnesses to testify for his defense in the criminal fraud case. 3911 Total views 9 Total shares Listen to article 0:00 Breaking news Join us on social networksFormer FTX CEO Sam SBF Bankman-Fried will testify as part of his defense case, said attorney Mark Cohen.
In an Oct. 25 telephone conference between SBFs lawyers, prosecutors and Judge Lewis Kaplan, Cohen said following the prosecution completing the presentation of its case on Oct. 26, his team planned to call three witnesses as well as Bankman-Fried to the stand. Judge Kaplan said he would allow the case to go straight through on Oct. 26, moving directly from the prosecutors final witness to the defenses first one.
According to Cohen, the defense is not expected to take more than three days to question the three potential witnesses, which included an attorney based in the Bahamas, Joseph Pimbley from litigation consulting firm PF2 Securities, and an individual to testify on the titles and responsibilities of former FTX employees. By Kaplans estimation, the defense case could take perhaps an hour, excluding SBFs testimony.
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The United States government is expected to wrap up its case against SBF on the morning of Oct. 26, with defense attorneys likely finishing the following day. Prosecutors added they were uncertain whether rebuttal witnesses would be necessary depending on Bankman-Frieds testimony. Closing arguments could be held before Oct. 31.
Related: Sam Bankman-Frieds trial is telling a story of classic financial deceit
Kaplan questioned whether the court would consider pursuing a special verdict in the case.The situation is one in which the jury gives its findings on factual issues in the case, without necessarily stating which party should win,” according to Cornell Law School’sLegal Information Institute.
[T]he government has a single substantive wire fraud count related to customers, and the theory is that the defendant [SBF] made false representations and was in a trust relationship with depositors and took money, said Assistant U.S. Attorney Nicolas Roos. I think there is certainly an element to which these are very intertwined to the extent that the false representations created an impression of trust and confidence amongst the victims of the crime.
The possible testimony of Bankman-Fried would follow statements from former FTX and Alameda executives, including Caroline Ellison, Gary Wang and Nishad Singh, all of whom admitted to committing crimes on the stand often at the direction of SBF. The criminal case alleged SBF was responsible for Alameda using FTX funds from customers without their knowledge.
Its unclear what information Bankman-Fried could provide to the jury that would counter the narrative put forth by other witnesses so far. The trial has been on hiatus since Oct. 19 but is expected to resume on Oct. 26.
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Add reaction Read more UKs FinProm a welcome change, but challenge persists Transak compliance head Will Sam Bankman-Fried fix his case when he takes the stand? Caroline Ellison blames Sam Bankman-Fried for misuse of FTX user funds at trial
Staff of Jaguar Land Rover (JLR) have been told to stay home for a further day, Sky News understands, as the carmaker struggles to recover from a cyber attack.
Employees of the British company have now been told to remain off work until Wednesday. Previously, workers were directed not to return until Tuesday.
A decision on whether to bring staff back or not is being taken day by day, Sky News understands.
Its retail activities were also impacted, but there was no evidence at the time that “any customer data has been stolen”, though JLR is reported to have flagged the risk of a data breach to the Information Commissioner’s Office.
Thousands of production staff at the UK’s largest car manufacturing sites in Halewood, Merseyside, and Solihull and Wolverhampton in the West Midlands are still being paid.
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Jaguar Land Rover is the UK’s latest major company to face a cyber incident, after Marks & Spencer had its operations disrupted for months.
After an attack over Easter, the high street chain only resumed click and collect services in August.
Attacks on the Co-op and Harrods were detected more swiftly, and had less of an impact.
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Jaguar Land Rover paused shipments to the US in April in response to President Trump’s new tariffs. A US-UK deal was subsequently agreed.
Reporting from The Sunday Times said JLR operations could be disrupted for “most of September” or worse.
On Wednesday, a group of English-speaking hackers claimed responsibility for the JLR attack via a Telegram platform called Scattered Lapsus$ Hunters, an amalgamation of the names of hacking groups Scattered Spider, Lapsus$ and ShinyHunters.
Scattered Spider, a loose group of relatively young hackers, were behind the Co-Op, Harrods and M&S attacks.
JLR suppliers Evtec, WHS Plastics, SurTec and OPmobility have had to temporarily lay off staff, impacting roughly 6,000 workers.
A spokesperson for JLR said on Monday: “We continue to work around the clock to restart our global applications in a controlled and safe manner.
“We are working with third-party cybersecurity specialists and alongside law enforcement.
“We are very sorry for the disruption this incident has caused. Our retail partners remain open and we will continue to provide further updates.”
The trial of a man accused of attempting to assassinate Donald Trump while he played golf is due to begin today.
Ryan Routh, 59, was arrested after a rifle was seen poking through bushes at Mr Trump‘s West Palm Beach golf course in Florida on 15 September last year.
The incident occurred weeks after a bullet grazed the president’s ear in another assassination attempt at a rally in Butler, Pennsylvania.
Routh, who faces the prospect of life in prison, has pleaded not guilty to all five charges against him. He has also opted to defend himself in court – an unusual move that legal experts say could add an unpredictable element to the trial.
Here is all you need to know as legal proceedings begin in Fort Pierce, Florida.
What did Routh allegedly do?
Prosecutors allege Routh, a construction worker from North Carolina, was “lying in wait” with a rifle near the sixth hole of the Florida golf course when Mr Trump was playing.
A Secret Service agent, who was patrolling the course ahead of Mr Trump, spotted a rifle barrel coming out of a perimeter fence.
After seeing Routh, the agent opened fire, causing him to flee the scene in a black Nissan SUV. He was later arrested on a motorway about 46 miles from the golf course.
Image: Members of the FBI at the Florida golf course last year. Pic: Reuters
Mr Trump was uninjured in the incident, and there is no evidence that Routh fired his weapon at the golf course.
Months before his arrest, Routh allegedly wrote a note signalling his intention to kill the president.
The note, which was left in a box at the house of an unidentified person, was headlined “Dear World” and allegedly said: “This was an assassination attempt on Donald Trump but I failed you.”
A handwritten list of dates and locations where Mr Trump was expected to be was also found on him, according to prosecutors.
What are the charges?
Routh is facing five felony counts in relation to the alleged assassination attempt. They include:
• Attempted assassination of a major presidential candidate; • Possessing a firearm to carry out a violent crime; • Assaulting a federal officer; • Felon in possession of a firearm and ammunition; • Possession of a firearm with an obliterated (removed) serial number.
In addition to the federal charges, Routh also has pleaded not guilty to state charges of terrorism and attempted murder.
How will the trial unfold?
The trial will begin on 8 September with the selection of the jury. Lawyers aim to find 12 jurors and four alternates, with the process expected to last three days.
Opening statements are then scheduled to begin on Thursday 11 September, and prosecutors will begin their case immediately after that.
Image: The incident happened weeks after an assassination attempt in Pennsylvania. Pic: Reuters
Prosecutors will have to convince a jury that Routh both intended to kill Mr Trump and took a substantial step toward doing so.
Mr Trump is not expected to attend court or give evidence.
The court has scheduled four weeks for the trial, but lawyers expect it will not last that long.
Why is Routh defending himself?
Routh, who has no formal legal training, is set to deliver opening and closing statements, question witnesses and present evidence on his own behalf.
In a letter to US district judge, Aileen Cannon, Routh said it was “ridiculous” to consider a “random stranger that knows nothing of who I am to speak for me”.
He added: “Best I walk alone.”
Routh’s two former lawyers will serve as “standby counsel,” where they can provide him with advice if called upon. He will also face strict limits on his ability to deliver political or ideological arguments at trial.
Criminal defendants have a legal right to self-representation, but experts say Routh’s decision increases the chance of legal risks.
“If his sole goal is to be acquitted, then his chances probably go down,” Erica Hashimoto, a law professor at Georgetown University, said.
“If he has something else that he’s trying to do by going to trial, then representing himself may be the only way to do that.”
Who is the judge?
District judge Aileen Cannon, who was appointed by Mr Trump during his first term, is presiding over the case.
She also oversaw the criminal case accusing Mr Trump of illegally holding onto classified documents, a case which she threw out, to the consternation of Trump critics.
Image: Judge Aileen Cannon. Pic: US Senate/AP
Ms Cannon has already ruled that some of Routh’s prior writings, which he sought to show the jury, cannot be presented as evidence.
She has also ordered against him using witness testimony as a “tool for calculated chaos”.
It comes as Routh previously suggested trading himself for a prisoner held by China or Iran, and unsuccessfully attempted to subpoena (order to court) Mr Trump himself, according to The New York Times.
The StubHub logo is seen at its headquarters in San Francisco.
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StubHub is aiming to raise as much as $851 million in its initial public offering, giving it a valuation of up to $9.2 billion, the company revealed in a new filing on Monday.
The ticket reselling marketplace plans to sell more than 34 million shares priced between $22 and $25 per share, according to the filing.
The long-awaited IPO comes after StubHub hit pause on the process in April as the stock market was reeling from President Donald Trump‘s sweeping tariffs. The company also eyed an IPO last year, but it postponed its efforts in July 2024 amid a slowdown in the IPO market.
StubHub plans to trade on the New York Stock Exchange under the symbol “STUB.”
Klarna, a Swedish provider of buy now, pay later loans, and Gemini, the crypto firm founded by Cameron and Tyler Winklevoss, are gearing up for public debuts this week.
StubHub filed an updated IPO prospectus last month, showing that first-quarter revenue grew 10% from a year earlier to $397.6 million. Operating income came in at $26.8 million for the period.
The company’s net loss widened to $35.9 million from $29.7 million a year ago.
The company has been a longtime player in the ticketing industry since its launch in 2000. It was purchased by eBay for $310 million in 2007, but was reacquired by co-founder Eric Baker in 2020 for $4 billion through his new company Viagogo.
StubHub had sought a $16.5 billion valuation before it began the IPO process, CNBC previously reported.