Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses

Sam Bankman-Frieds lawyers are planning to advance a skilled witness to counter statement from former Alameda Research CEO Caroline Ellison and other witnesses about the level of monetary ties in between FTX and the trading firm.In an Oct. 23 letter to New York District Judge Lewis Kaplan, Bankman-Frieds lawyers said Joseph Pimbley from lawsuits consulting company PF2 Securities would affirm on behalf of the previous FTX CEO. The letter sets out that Pimbley will testify– based upon FTX database info– that Alamedas credit line with FTX “varied between around $1 billion and $3 billion” between October 2021 and September 2022 and reduced in June 2022 which has the objective of developing a definitive timeline for the line of credit.Pimbley will likewise affirm that most of balances for non-alameda and non-ftx users remain in U.S. dollars, Bitcoin (BTC), Ether (ETH) and Tether (USDT) and over 75% of non-FTX and Alameda user balances “develop from accounts that have area margin enabled, area margin lending allowed, or show futures activity”– which might provide context to testimony made by previous FTX executives.Highlighted excerpt of the letter on testament Pimbley will counter regarding FTX customer trading. Source: CourtListenerThe testimony is also set to rebuff a statement by Ellison, FTX co-founder Gary Wang, previous FTX engineering director Nishad Singh and previous FTX staff member Adam Yedidia relating to Alamedas credit line and FTX consumer use of margin trading.Dr. Pimbley is set to counter Ellisons statement that Alameda had “a basically limitless credit line on FTX” and Wangs testament that the company had borrowed “around $3 billion” from the credit line. Related: FTX lender claims breach the 50c mark as buyers see light at the end of the tunnelPimbleys 54-page disclosure information different charts, spreadsheet excerpts, diagrams, and database inquiries pulled from FTXs Amazon Web Services database that associate with FTXs credit line with Alameda between October 2021 and November 2022. Pimbley is being compensated at a rate of $720 an hour plus costs for his work but stated he has “no monetary interest in the outcome of this case.” He was among 7 professional witnesses earlier advanced by Bankman-Frieds legal team, which Judge Kaplan disallowed from affirming however allowed future statement if they were to react to government witness testimony and clarify their claims.Magazine: Web3 Gamer: Ethical SBF game axed, Web3 games sign-up procedure sucks, Tomb Chaser

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