Singh’s political donations were loans: Sam Bankman-Fried trial live updates
The post Singh’s political donations were loans: Sam Bankman-Fried trial live updates appeared on BitcoinEthereumNews.com. FTX co-founder Sam Bankman-Fried faces seven federal charges in a criminal trial taking place in Manhattan. The former crypto exchange exec is accused of misappropriating billions of dollars of customer funds for real estate, donations, political contributions and investments. The current state of play: FTX’s former head of engineering, Nishad Singh, is expected to take the stand again this morning, with the defense telling Judge Lewis Kaplan that they expect to spend roughly four to five hours cross-examining him. The prosecution is then expected to tap another ex-Alameda employee, an FBI agent and an FTX customer. Read more here. 2:15 pm ET: An interesting cross-examination puts a juror to sleep And we’re back to the political donations. More specifically, Nishad Singh’s role in donating to political causes — from his point of view. Cohen asked Singh at one point whether he thought he was required to be the face of political donations. “Not required,” Singh responded. Leading up to Singh’s cross-examination, the government narrative made it seem as if Singh was essentially bullied by Gabriel Bankman-Fried and his associates into being the flow-through point for massive amounts of money to Democratic candidates and causes. Cohen also pointed out that most of the donated money came from loans. While Singh attempted to push back on the characterization, he eventually caved and agreed with it. Then, Cohen asked — at least four times — whether Singh thought he was on the hook for the loans. Singh said he “wanted to pay them back” but he didn’t know if there was an explicit understanding that he had to pay them back. Generally, those who make loans do tend to want the money back, it’s a real bummer. Read more: SBF scores rare victory in Singh cross-examination Cohen tried to bring up transcripts from…
The post Singh’s political donations were loans: Sam Bankman-Fried trial live updates appeared on BitcoinEthereumNews.com.
FTX co-founder Sam Bankman-Fried faces seven federal charges in a criminal trial taking place in Manhattan. The former crypto exchange exec is accused of misappropriating billions of dollars of customer funds for real estate, donations, political contributions and investments. The current state of play: FTX’s former head of engineering, Nishad Singh, is expected to take the stand again this morning, with the defense telling Judge Lewis Kaplan that they expect to spend roughly four to five hours cross-examining him. The prosecution is then expected to tap another ex-Alameda employee, an FBI agent and an FTX customer. Read more here. 2:15 pm ET: An interesting cross-examination puts a juror to sleep And we’re back to the political donations. More specifically, Nishad Singh’s role in donating to political causes — from his point of view. Cohen asked Singh at one point whether he thought he was required to be the face of political donations. “Not required,” Singh responded. Leading up to Singh’s cross-examination, the government narrative made it seem as if Singh was essentially bullied by Gabriel Bankman-Fried and his associates into being the flow-through point for massive amounts of money to Democratic candidates and causes. Cohen also pointed out that most of the donated money came from loans. While Singh attempted to push back on the characterization, he eventually caved and agreed with it. Then, Cohen asked — at least four times — whether Singh thought he was on the hook for the loans. Singh said he “wanted to pay them back” but he didn’t know if there was an explicit understanding that he had to pay them back. Generally, those who make loans do tend to want the money back, it’s a real bummer. Read more: SBF scores rare victory in Singh cross-examination Cohen tried to bring up transcripts from…
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