Last week former FTX CEO Sam Bankman-Fried got arrested in the Bahamas at the behest of U.S. prosecutors.
The US government has charged him with eight criminal violations from wire fraud to money laundering to conspiracy to commit fraud.
Mark Kasten, a member of the Blockchain and Crypto Assets Practice Group at law firm Buchanan Ingersoll & Rooney says the SBF’s lawyers could argue that he is not a criminal and is incompetent.
Pointing out to SBF interviews, Kasten told FOX Business that that’s probably the defense that they were going to use anyway.
Kasten also mentioned that SBF can claim that he was not aware of the alleged movement of funds from FTX to Alameda.
Further, he may claim that he did not have oversight as he had delegated those responsibilities to other members of leadership.
Kasten said observers can expect SBF's lawyers to attack the credibility of their collaborators as they are likely testifying against him.
