Prosecution's Devastating Rebuttal Unleashed On Bankman-Fried As Jury Nears Verdict

The prosecution thoroughly discredited Sam Bankman-Fried in front of the jury just before they began their deliberations as they presented their rebuttal to the defense's statements made during the closing arguments Thursday.

The criminal fraud trial of Bankman-Fried, also known as SBF in the crypto space, reached its final stage when the prosecution delivered its closing arguments Wednesday, which extended into Thursday.

The 12-member jury was slated to receive final instructions in the Southern District Court of Manhattan on Thursday, and they might reach their verdict by day's end.

But before that, the prosecution, having "met the burden" of proving in court that the defendant was guilty of seven counts of fraud and conspiracy to commit fraud, tore apart the 31-year-old crypto mogul before the jury.

U.S. Assistant Attorney Danielle Sassoon, representing the prosecution, countered defense attorney Mark Cohen's statement on Wednesday, in which he asked the jury to consider that if Bankman-Fried were a fraudster, he would never have agreed to be interviewed on "Good Morning America" just days after being accused of the alleged crimes.

However, AUSA Sassoon pointed out that this interview was merely part of a media blitz following the collapse of Bankman-Fried's crypto empire and an "effort to present himself as reliable."

The prosecution also accused the alleged cryptocurrency fraudster of dazzling the media and Congress, with his lawyers attempting to make people "believe he was clueless. He didn't know the code. He never looked at the database. He was authorizing ginormous expenditures without knowing."

AUSA Sassoon emphasized that Bankman-Fried didn't abscond with the money and, instead, continued to repay lenders in the final days of his crypto empire because he didn't want to risk exposure and didn't want to become "a criminal on the run." He still believed he could deceive the world.

The prosecution's attorney also appeared incensed when responding to Cohen's statement before the jury, suggesting that the government's star witnesses, Caroline Ellison, Nishad Singh, and Gary Wang, all from Bankman-Fried's inner circle, had incentives to lie when testifying against their former colleague and friend.

AUSA Sassoon labeled the accusation as "outrageous" and Cohen's statement as a "desperate and unsupported accusation." She repeatedly urged the jury to view Bankman-Fried's testimony and the defense's arguments as a "fabricated story" and encouraged them to "reject it."

Sassoon pointed out, "Think about June [2022] - things were collapsing, but the defendant supposedly didn't investigate anything, including the bug and the seven spreadsheets. It's absurd. Suddenly, he discovers a $10 billion liability, yet he goes about his business. It's a fabricated narrative."

Moreover, she said, "Even if you believe everything the defendant said on the stand, he is still guilty of fraud. He was the central figure in this fraud. We don't have to prove it was a fraud from Day 1; the evidence shows that. But even from September [2022], it's fraud."

Bankman-Fried "attempted to deceive customers, then tried to destroy evidence. He made false statements to the press. He believed he would never be caught," AUSA Sassoon further said, concluding her statement with, "He didn't anticipate his three loyal deputies taking the stand and telling the truth. He has been exposed. It's time to deliberate without fear... Find him guilty."