SBF’s Lawyers Seek To Cross-Examine Gary Wang on Counsel’s Involvement in Alameda Loans
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Ad Disclosure
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
In the ongoing multi-billion fraud trial of the bankrupt FTX exchange, Sam Bankman-Fried (SBF) has blamed lawyers’ involvement in structuring the loans issued to FTX co-founder Gary Wang by Alameda Research.
As a result, SBF’s lawyers have requested Judge Lewis Kaplan to cross-examine Wang further about his knowledge of the lawyers’ involvement.
The interrogation would also include questions such as which attorneys were involved in the loans and what was the nature of their involvement.
Per a legal filing put forth on Monday night, prosecutors have already examined Wang “about a series of personal loans worth approximately $200-$300 million that he received from Alameda to fund venture investments by FTX and to fund his purchase of a house in the Bahamas.”
Further, Wang’s “understanding” that these were actual loans is relevant to rebut the interference “that these were simply sham loans” directed by SBF to hide the source of the funds.
Wang told the Government that he relied on the lawyers and “didn’t think the loans were designed to hide the fact that money was coming from Alameda”, the filing wrote. He added that he didn’t think the lawyers would ask him to sign something very illegal.
Wang testified that SBF was not surprised to discover a huge $8bn shortfall in the days before the collapse of FTX. Caroline Ellison, former CEO of Alameda and SBF’s ex-girlfriend and the prosecution’s star witness is expected to testify later Tuesday.
Bankman-Fried is facing seven counts of conspiracy and fraud over the spectacular collapse of FTX and its associated hedge fund, Alameda Research. Both Wang and Ellison have pleaded guilty and are cooperating with investigators.
- How Tether Co-Founder William Quigley Views Crypto Regulations in Trump’s Second Term
- Trump Appoints PayPal Veteran David Sacks as ‘White House AI and Crypto Czar’
- From $10K to $75K: How Dave Portnoy Pumped and Dumped Meme Coins on His Followers
- Gold-Backed Altcoins Boom as Major Banks Raise Price Predictions: Which Coins to Get
- Crypto Prices Dip as Trump’s Metal Trade Tariffs Weigh on Markets






