Former FTX CEO Aims to Counter Testimonies
Former FTX CEO Sam Bankman-Fried is enlisting a financial expert to provide counter-testimony against statements made by witnesses in the ongoing legal battle, including Caroline Ellison, Gary Wang, Nishad Singh, and Adam Yedidia.
Expert Witness to Address Financial Ties
Bankman-Fried’s legal team has informed New York District Judge Lewis Kaplan that Joseph Pimbley from PF2 Securities will testify on Bankman-Fried’s behalf. Pimbley, using data from FTX’s database, plans to establish a clear timeline for Alameda’s line of credit with FTX, which fluctuated between $1 billion and $3 billion from October 2021 to September 2022.
The expert witness will counter testimonies provided by several individuals, including Caroline Ellison’s claim of an “essentially unlimited line of credit on FTX” and Gary Wang’s statement about borrowing “around $3 billion” from the credit line. Pimbley’s expert testimony aims to provide clarity in the ongoing legal proceedings.