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Sam Bankman-Fried replaces legal team ahead of sentencing

FTX founder Sam Bankman-Fried replaced his attorneys, Mark Cohen and Christian Everdale, as he prepared for sentencing discussions.

Headline

FTX founder Sam Bankman-Fried replaced his attorneys, Mark Cohen and Christian Everdale, as he prepared for sentencing discussions.

Context

As Bankman-Fried, FTX founder, prepared to enter sentence discussions, he replaced his previous attorneys, Mark Cohen and Christian Everdale. Upon being found guilty of cheating FTX clients of billions of dollars, Sam Bankman-Fried made his first court appearance and said that his trial lawyers would no longer be representing him as he approaches sentence.

Evidence

Pending intelligence enrichment.

Analysis

Marc Mukasey, the newly recruited attorney, will instead be his representative for the next month. Bankman-Fried, who was convicted guilty of fraud and conspiracy on seven distinct counts in November of last year, will get his sentence in late March. Mukasey also defends Alex Mashinsky, the creator of the insolvent cryptocurrency lender Celsius, who is charged by the Department of Justice with a number of offenses, including conspiracy to manipulate the price of the company’s token, CEL, and securities and commodities fraud. Mashinsky is scheduled to go on trial this fall. Also read: Independent bankruptcy examiner ordered to investigate FTX collapse

Key Points

FTX founder Sam Bankman-Fried has replaced his previous attorneys, Mark Cohen and Christian Everdale, as he approaches sentencing.
The newly recruited attorney, Marc Mukasey, will now represent Bankman-Fried.
Mukasey also defends Alex Mashinsky, the creator of the cryptocurrency lender Celsius, who faces charges including conspiracy to manipulate the price of the company’s token and securities and commodities fraud.