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FTX founder Bankman-Fried chooses new legal team despite conflicting worries about his appeal

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FTX founder Bankman-Fried chooses new legal team despite conflicting worries about his appeal

Sam Bankman-Fried, former FTX CEO, has chosen Marc Mukasey and Torrey Young for his appeal despite potential conflict concerns.

It is worth noting that SBF, who separated from his trial legal team, plans to engage these attorneys, who also represent ex-CEO Alex Mashinsky.

This decision follows a request from US prosecutors for a hearing on possible conflicts of interest due to their dual representation.

Additionally, prosecutors have highlighted a conflict risk due to financial interactions between Alameda Research and Celsius, both of which have declared bankruptcy.

Furthermore, Bankman-Fried intends to argue that Celsius was not defrauded, which could conflict with Mashinsky’s claims.

Experts, including Ira Lee Sorkin, Bernie Madoff’s former lawyer, and Braden Perry, have pointed out the ethical challenges of dual representations, especially in complex white-collar cases.

SBF remains under arrest following his fraud conviction, while Mashinsky is set for a fraud trial in January 2025.

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Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.