Sam Bankman-Fried (SBF), the founder of FTX and Alameda Research, is fighting to gain access to documents from law firm Fenwick & West. These documents, covering 11 different subjects, could contain elements favorable to the defense of SBF in its criminal case. While FTX debtors and the prosecution have already had access to these documents, SBF is now determined to use them in its defense.
Revealing documents that could change everything for SBF?
At the heart of this case is Fenwick & West, a law firm that acted as counsel for FTX, Alameda and SBF. From the beginnings of these entities until the bankruptcy of FTX, these lawyers accompanied their journey.
Today, SBF’s legal team seeks to exploit the documents produced by the firm in order to consolidate its defense against the serious charges against it.
According to a memorandum filed in the Southern District Court of New York, Fenwick & West indicated that the transmission of the documents required the prior authorization of the debtors of FTX.
These materials include advice and other content developed by the firm. They are already in the hands of debtors of FTX and the government.
” The FTX Debtors gave the government full access to its documents, without the need to issue subpoenas, and are so entangled in the government’s investigation that they must be considered part of “the pursuit team “for the purposes of government discovery obligations.”
The documents in question include 11 motions covering crucial and determining subjects for the preparation of SBF’s defence. Here is an illuminating overview of these major themes:
- Incorporation of FTX, FTX US and Alameda.
- Financial and legal links between these entities.
- Incorporation of North Dimension and North Wireless Dimension.
- Relationship with Silvergate Bank.
- FTX Data Retention Policies.
- Liquidity and margin loans.
- Registration as a Money Services Business.
- Various statements made by organizations.
Indeed, the memorandum refers to Rules 16 and 17 of the Federal Rules of Criminal Procedure, which deal respectively with the disclosure of information used by the government in a trial and subpoenas. In addition, he mentions the Brady decision of the United States Supreme Court regarding the disclosure of evidence.
As you will have understood, SBF is desperately seeking access to these documents in order to strengthen its defense in this case. Recall that SBF is charged with eight counts, potentially carrying a maximum sentence of 115 years in prison.
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