– Lawyers for Sam Bankman-Fried are seeking to question FTX co-founder Gary Wang about attorneys’ involvement in loans from Alameda Research.
– Wang received personal loans worth around $200-300 million from Alameda to fund venture investments by FTX and to buy a house in the Bahamas.
– Bankman-Fried’s lawyers believe that Wang’s understanding that these loans were legitimate, structured by lawyers and with formal promissory notes, will rebut the claim that they were sham loans.
– Bankman-Fried’s lawyers want to ask Wang which attorneys were involved, what documents were prepared, and if he had any concerns about the loans at the time of signing.
– The relationship between Alameda and FTX has been important in the trial, with Wang testifying that Alameda could withdraw funds even with a negative balance, using FTX customer deposits.
– Wang’s testimony is expected to continue, followed by former Alameda Research CEO Caroline Ellison.
– Disclaimer: The article is for informational purposes only and does not constitute legal, tax, investment, financial, or other advice.
Sam Bankman-Fried’s lawyers are seeking permission to question FTX co-founder Gary Wang about attorneys’ involvement in loans issued to Bankman-Fried by Alameda Research. They want to ask Wang about the attorneys’ identities, the documents they prepared, and whether Wang had concerns about the loans when he signed them. The relationship between Alameda and FTX has been a significant aspect of the trial, with Wang testifying that Alameda had the ability to withdraw funds even with a negative account balance, with the funds coming from FTX customer deposits.
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