Sam Bankman-Fried To Testify as Early as Today, Will Be “Skinned Alive,” Says Anthony Scaramucci

Updated: 26 October 2023

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FTX founder Sam Bankman-Fried is set to testify in his fraud trial as early as today in a high-stakes gamble that former White House communications director Anthony Scaramucci said will see him ”skinned alive.”

Bankman-Fried attorney Mark Cohen told Judge Lewis Kaplan in a conference call yesterday about his client’s plan to testify.

Bankman-Fried In High-Risk, High-Reward Strategy

It’s a high-risk, potentially high-reward strategy that some analysts say shows that Bankman-Fried’s team feel behind in the trial thus far.

“He’s gonna get skinned alive; there’s no way to escape,” Scaramucci said in an interview on CNBC. “He thinks he’s going to outfox the prosecutors, but they’re very, very well experienced with this stuff.”

Cohen expects his client’s testimony to last as long as former FTX executives Nishad Singh, Gary Wang, and Caroline Ellison, indicating that it will continue into Friday if it does start today. The prosecution will then have the opportunity to cross-examine the former FTX CEO.

He said the defence will call just a few other witnesses, including a financial services expert from PF2 Securities, Joseph Pimbley, and a Bahamas lawyer.

Prosecutors will only be calling one more witness to the stand, FBI agent Mark Troiano.

Scaramucci Also Fooled By Bankman-Fried

Scaramucci, the founder of SkyBridge Capital, told CNBC that Bankman-Fried may have years added to his sentence.

He claimed that Bankman-Fried’s nerdy person and grand claims about giving away his fortune for good causes had fooled him and that he regretted taking him to meet with heads of state.

SkyBridge Capital had invested in FTX and is thus among its creditors.

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