Sam Bankman-Fried Denies Involvement in Unauthorized Transactions, Pursues Access to FTX Funds

Sam Bankman-Fried's legal team has asserted that he had no participation in prior illicit.transactions, and should therefore be allowed access to firm resources..The legal representatives of Sam Bankman-Fried are looking to have a bail restriction.overturned that stopped him from utilizing the resources of FTX, as outlined in the court.documents released on January 28th..Mark Cohen, the lawyer of Bankman-Fried, wrote a letter to United States District Court.Judge Lewis Kaplan asserting that Bankman-Fried has a right to the funds housed by FTX,.saying that the client was not part of any illicit transactions..FTX and FTX US are alleged to have attempted to move around $659 million without.permission during the crypto exchange's demise in November 2022, as reported by Nansen..Sam Bankman-Fried refuted any association with the transfers..In accordance with the letter given to Judge Kaplan, Bankman-Fried was not allowed to.access or move any FTX or Alameda funds, registrations, or cryptocurrency, including any.that had been obtained with funds from FTX or Alamedan during the original hearing on.January 3rd. The government officers admitted at this time that there was no proof that.Bankman-Fried had moved any funds, and made aware that an investigation by the federal.government was in the process..It has been almost three weeks since the initial pretrial conference, and the defense.presumes that the government's investigation has established what their client, Mr..Bankman-Fried, has been claiming all this time: that he had nothing to do with accessing or.transferring the assets. Furthermore, they left the authorities aware of the transfers.immediately when they found out about them. Therefore, due to the lack of evidence.supporting the bail condition, the defense believes that the condition should be taken away..The letter also responds to a demand from January 27th, as stated by the U.S. Department.of Justice (DOJ), prohibiting Bankman-Fried from having any contact with present or former.employees of FTX or Alameda Research without having his lawyer present..The prosecutor asked for legal action to be taken against Bankman-Fried after they.supposedly communicated with Ryne Miller, the General Counsel of FTX US, through Signal.and email on January 15th in an effort to affect Miller's testimony..According to Cohen's letter, Bankman-Fried should be able to talk freely with his father,.therapist, and any employees or representatives of a foreign regulator without the lawyers.present..The defense argued that if Mr. Bankman-Fried had to involve his legal team in every.communication with someone who current or previously worked at FTX or Alameda (which.reportedly employed 350 people), then it would place a heavy burden on his resources and.likely hinder his defense of the case..On November 11th, FTX declared bankruptcy and Bankman-Fried stepped down as its CEO..Currently on house arrest and living in his family's California home, he has eight charges filed.against him, which include wire fraud and money laundering.