Key Witnesses in Sam Bankman-Fried’s Trial

Sam Bankman-Fried’s trial has entered its third day, as has the case with the FTX founder facing seven different charges of wire fraud and money laundering. After the jury selection finished on Day 2, both sides brought forward key witnesses to present their case.

The hearing will be presided over by Chief District Judge Louis A. Kaplan, with Assistant U.S. Attorney Nicholas Ross leading the prosecution and the defense led by Mark Cohen.

So far, three witnesses have been questioned. However, more than 22 key witnesses are set to appear throughout this trial, some of whom are close friends and colleagues of Bankman Fried.

Let’s take a quick look at who these witnesses are and how they are connected to this historic trial.

Adam Jedediah

A close college friend of Sam Bankman Fried from the MIT days, Adam Yedediah took roles at both FTX and Alameda Research. Yedidia was granted immunity by prosecutors, indicating his potential importance as a witness in the unfolding case.

Yedidia is currently a witness in the trial. He was summoned by the court to testify. Here are some key points from his testimony:

• Jedediah knew that some of FTX’s money went to Alameda, but he thought Alameda was just holding the funds.
• Yedidia stated that he did not know anything about Alameda spending FTX money.
• FTX’s system showed that Alameda had $8 billion in debt, and Sam told Jedediah that it was an error.
• Jedidiah initially wanted to stay with FTX even after it declared bankruptcy, but she immediately resigned when she learned that Alameda was using clients’ money to repay their loans.

Alfred Lin

As a partner in venture Sequoia Capital Company, Alfred Lin noted in June that Sequoia “is likely to make an investment” in FTX again. He also knew a friend of SBF’s parents, giving him a dual point of view on both personal and professional aspects of the case.

Carolyn Ellison

An ex-girlfriend of SBF and former CEO of Alameda Research, Carolyn Ellison pleaded guilty to fraud as part of this case in cooperation with prosecutors. Her intimate knowledge of both SBF and Alameda operations makes her an important witness.

Constance Wang

Constance Wang, former COO of FTX, is known for holding parties on one floor in the Bahamas. Wang’s high-ranking position within the company likely means she has complex knowledge of its operations.

Gary Wang

As a founding partner of both Alameda Research and FTX, Gary Wang knew SBF from MIT and a math camp they both attended. Wang pleaded guilty alongside Caroline Ellison in December, indicating that he will provide pivotal testimony.

While testifying today, Wang Hu admitted to committing fraud while working at FTX.

Osa: Did you commit crimes at FTX?
Gary Wang: Yes, with Nishad Singh, Caroline Ellison, and Sam Bankman-Fried.

Caroline Papadopoulos

The former director of finance at FTX.US, Caroline Papadopoulos would have been responsible for supervision of financial matters related to the American arm of FTX and can therefore provide key insights into illegal financial activities.

Mark Witjen

Mark Witjen supervised policy at FTX.US. His role means an understanding of the regulatory landscape and internal compliance, which may be important in a case involving financial scams.

Matt Huang

Matt Huang, who co-founded cryptocurrency startup Paradigm after leaving Sequoia, invested $278 million in FTX. His investment ideas can offer perspective on company evaluation and strategic decisions.

Nishad Singh

Former head engineer at FTX, Nishad Singh allegedly created code that allowed Alameda Research to transfer client funds from FTX. Singh pleaded guilty.

Last Key Witnesses

In addition, Ramnik Arora and Ryan Miller are also set to bear witness, as they each have deep insights into FTX’s financial strategies and legal framework, which will likely serve as a cornerstone in understanding the alleged fraud.

Zach Prince, CEO of the now bankrupt BlockFi company, can also provide a wider lens on the market impact of FTX’s breakdown. Rayan Salama, a key figure in FTX’s operations in the Bahamas, and Anthony Scaramucci, a political figure turned investor, hold unique perspectives on SBF’s business and fundraising efforts.

Family members Barbara and Joseph Bankman, both legal scholars, accompanied by Sam’s younger brother Gabriel Bankman-Fried, may provide accurate testimony on behalf of the defendant about the personal and charitable aspects of SBF’s life. Michael Caves, involved in legal battles with the ownership of FTX, and Samuel Trabucco, a former Co-CEO of Alameda Research, may provide exclusive insights into SBF’s business relationships and the operational complexities of Alameda and FTX.