by Matthew Russell Lee, Patreon Book Substack
SDNY COURTHOUSE, Oct 4 – For US v Bankman-Fried, after more than a day of jury selection, late morning on October 4 the twelve and six alternate were selected. Inner City Press live tweeted the voir dire here list of 12 on Substack here and all 18 on Patreon here- then the first two witnesses, thread:
OK - at US v. Bankman-Fried, now with opening arguments done. Witness(es) soon - but first, legal arguments
SBF's lawyers ask to keep out of evidence a photo from the Bahamas showing yachts. SFB lawyer: He did not buy expensive things.
Judge Kaplan: Other than the $30 million condo... Denied. Bring in the jury and witness.
Witness: Marc-Antoine Julliard. AUSA: Do you still live in France? Julliard: No, I live in London. I'm a cocoa broker. AUSA: Have you invested in crypto? Julliard: Yes. Examples are Bitcoin, Ethereum.
AUSA: How did you learn of FTX? Julliard: Through a friend AUSA: Who was the CEO? Julliard: Sam Bankman Fried [he says it like fried chicken; laughter in the courtroom] AUSA: Who is this? Julliard: SBF.
AUSA: Did you see FTX ads? Julliard: Yes, with Formula 1. And celebrities and influencers. A model, Gisele. AUSA: The government offers S-2000, and 902. Julliard: I also heard that FTX advertised in the Super Bowl. It said they had strong financials. Julliard: I engaged in spot trading. I had a simple, long term strategy. I would accumulate Bitcoin and sell at higher prices.
AUSA: Does it involve trading on margin? Julliard: It gives you leverage. You are borrowing. AUSA: Did you use the FTX mobile app? Julliard: Daily. Probably hourly. AUSA: What is this?
Julliard: I transferred some DOGE currency.
AUSA: Some what?
Julliard: DOGE. D - O - G - E
AUSA: What was your understanding of how FTX made money? Julliard: Charging a fee on trades. AUSA: Did you think they were lending out your money? Julliard: No. AUSA: Did you follow news about Bankman-Fried?
Julliard: Yes, I followed crypto newsJulliard: I saw pictures of Mr. Bankman-Fried with politicians SBF's lawyer: We'd like a limiting instruction. [So the photo is shown] Julliard: That is Bankman Fried... and Bill Clinton... and Tony Blair
Julliard: I understood that when Terra Luna failed, FTX helped out. AUSA: Did you follow Mr. Bankman-Fried on Twitter? Julliard: Yes. AUSA: Exhibit 863. Who posted this on Nov 6, 2022? Julliard: SBF. Sam Bankman-Fried. He said it was fine. Julliard: I tried as an experiment to withdraw one Bitcoin. It was never processed. It was at $20,000. I had four of them, and $20,000.
AUSA: Have you ever gotten that money back? Julliard: No. AUSA: No further questions on direct. Judge Kaplan: Cross examination SBF's lawyer: Mr. Julliard, as a commodities broker do you have direct customer contact? AUSA: Objection! Judge Kaplan: Grounds? AUSA: Relevance. Julliard: May I answer? Judge: Yes. Julliard: Yes, I have client contact.
SBF's lawyer: Wasn't a reason you got into crypto that it was unregulated? Julliard: My company allowed me to trade it. SBF's lawyer: Do you have other investment accounts? AUSA: Objection. Relevance. Judge Kaplan: I'll allow it. Julliard: I have like a 401K SBF's lawyer: Fair to say you've never met or emailed with my client before today? Julliard: Never.
SBF's lawyer: No further questions.
Judge Kaplan: Re-direct? AUSA: Who did you believe owned the contents of your account? Julliard: Myself.
Judge Kaplan: Thanks Next witness: Adam Yedidia. AUSA: How do you know the defendant? Yedidia: Long time friend, at Alameda and FTX AUSA: When did you stop working at FTX?
Yedidia: In November 2022, the Thursday it went bankrupt. I got a phone call from a developer SBF lawyer: Hearsay Yedidia: I learned that Alameda used FTX depositors money to pay back Alemeda's loans. AUSA: Were you subpoenaed to be here today? Yedidia: No. AUSA: Do you have an immunity order? Yedidia: Yes.
Yedidia: We lived together at MIT. It was a close friendship. AUSA Sassoon: What did the defendant do after MIT? Yedidia: He went to Jane Street. I got an Ph.D. Later I went to work for Alameda Research. [Now "Get to Know Crypto" video shown] AUSA: Was Bankman-Fried the face of FTX? Yedidia: Yes. AUSA: What's this? AUSA: Sam on the cover of Forbes.
[Tom Brady ad played]
[Now Larry David Superbowl ad played - jurors paying attention.]
"I'm never wrong about this stuff, never."] Judge Kaplan: Just to make sure we're all on the same page, who's Tom Brady? Yedidia: The quarterback. Judge Kaplan: And who's Larry David? Yedidia: The comedian. AUSA Sassoon: Is this the apartment you lived in in the Bahamas? Yedidia: Yes, with nine others including Sam AUSA: How much did it cost?
Yedidia: $35 million. AUSA: Who purchased it? Yedidia: Sam did. SBF's lawyer: Objection. He did not seem certain Judge Kaplan: You can cross examine on that. AUSA: DId you work at FTX to live in that apartment? Yedidia: No. AUSA Sassoon: It's nearly 4:30, a good breaking point.
Judge Kaplan: Okay. [Jury exits] Judge Kaplan: Anything else to take up?
SBF's Cohen: Yes, one item. It has two parts. Mr. Bankman Fried is not receiving sufficient adderall. He needs it two times a day. Could you order the Bureau of Prison to have it here?
Judge Kaplan: Get in touch with them Inner City Press Judge Kaplan: I don't have a medical degree SBF's lawyer: Can he be produced early tomorrow?
Judge Kaplan: Yes, I sent my order to the Marshals. Thank you folks. Adjourned
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