SBF trial prosecutors defy court’s moratorium for a five-page evidentiary letter 11 PM Friday


  • Prosecutors defied a court-issued ban on late-night submissions, filing a five-page evidentiary letter at 11PM on Friday.
  • The new evidence includes SBF's tweet(s) "convincing Marc-Antoine Julliard not to withdraw funds on November 6 and 7, 2022.
  • Julliard had testified, citing relentless, high-priced marketing to take a chance on crypto trades within the exchange as thieving strategy.

Sam Bankman-Fried (SBF) trial took a break for the weekend after BlockFi CEO Zac Prince’s testimony, with a standing moratorium or ban for late night submissions. Prince had detailed the lending firm’s exposure to FTX, revealing at least $850 million in loans issued to FTX between July and early November.

Also Read: BlockFi CEO Zac Prince in court after Caroline Ellison as SBF trial continues

SBF trial prosecutors submit new evidence at odd hours

SBF prosecutors went against a court-issued embargo, that no filings should be made late in the night. According to reports by Mathew Russell Lee of the Inner City Press, the prosecuting attorneys filed a five-page evidentiary letter at 11 p.m. on Friday highlighting that SBF's tweet(s) convinced Julliard not to withdraw funds.

Prosecutor's latest filing, October 13 11 PM

Marc-Antoine Julliard is one of the witnesses who took the stand last week before day three revelations from Adam Yedidia, former FTX software engineer and SBF’s friend from their days at MIT. Julliard, a London-based commodities broker and cocoa trader, told the court he had essentially been deceived by FTX’s relentless, high-priced marketing to take a chance on crypto trades within the exchange.

Specifically, Julliard had mentioned an advertisement in the Gisele Bündchen magazine, SBF’s hobnobbing with Bill Clinton and Tony Blair, venture capital firms pouring money into FTX, and the defendant’s  tweets about using crypto “for good.” According to Julliard, these are the factors that drove him to buy into FTX.

Julliard had assets totaling about $100,000, between his four Bitcoins (BTC) and a $20,000 fiat account, but did not withdraw his holdings from the exchange even after seeing the doubts cast on Bankman-Fried’s business in early November. This was because in the same week, SBF posted on Twitter, now X, that “he taking care of it and everything was fine.” Tweets were provided as exhibits. Julliard later realized the magnitude of the trouble in FTX by around November 8, but then it was too late. His withdrawal requests were not being processed by the app.

To this day, Julliard has never been able to recover his money.

Prosecutors claim SBF "lied to the world" to gain influence and riches. His defense says it is just entrepreneurial mistakes.

Sam Trabucco

Still, Sam Trabucco remains a person of interest in the SBF trial. The former Alameda co-CEO has not been indicted for his violation of the FCPA as part of the FTX / Alameda Chinese bribe. While some attribute this to his exiting the firm months before the November implosion, a recent revelation cites him among participants or members in a November goup chat.

November group chat

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

Coinbase envisages listing of more meme coins amid regulatory optimism

Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP