Steven Lee, Sean Shecter Speak with Law360 About FTX Founder’s Criminal Defense

May 10, 2023 Atlanta Partner Steven H. Lee and Fort Lauderdale Partner Sean P. Shecter recently spoke with Law360 about FTX cryptocurrency exchange founder Sam Bankman-Fried’s criminal defense against charges of financial fraud and violation of campaign finance laws.

Atlanta, Ga. (May 10, 2023) – Atlanta Partner Steven H. Lee and Fort Lauderdale Partner Sean P. Shecter recently spoke with Law360 about FTX cryptocurrency exchange founder Sam Bankman-Fried’s criminal defense against charges of financial fraud and violation of campaign finance laws.

The article, titled “FTX Founder Launches Volley Of Defenses In Criminal Case,” describes a series of motions filed by Mr. Bankman-Fried's legal team in New York federal court this week that seek to dismiss 10 of the 13 counts with which Mr. Bankman-Fried has been charged. The former FTX CEO said that the government of the Bahamas did not agree to several charges brought against him by the U.S. government, including one that claims he hid millions of dollars in political donations to both Democrats and Republicans.

Mr. Bankman-Fried pled not guilty to all charges and asserted that he is not liable for an alleged $40 million bribe to Chinese officials, made so he could unfreeze a pair of accounts with roughly $1 billion in assets belonging to FTX sister company Alameda Research.

According to Mr. Lee, most of the defenses offered by Bankman-Fried were standard for the circumstances, except for the claim of improper extradition. "Improper extradition is not often filed but I'd be surprised if the court were to grant that," said Mr. Lee, noting that Mr. Bankman-Fried voluntarily surrendered to authorities in the Bahamas.

Mr. Shecter also weighed in on the proceedings, telling Law360 that Mr. Bankman-Fried's attorneys are trying to preserve an appeal and are likely trying to see if the government gives up "nuggets of information" in response to the motions. This legal strategy acknowledges that the government has significant evidence to prosecute, and these motions could be a way to preserve appellate rights, “even if it involves throwing spaghetti against the wall," according to Mr. Shecter.

Mr. Lee serves as vice chair of Lewis Brisbois’ Government Investigations & White Collar Defense Practice. As a former federal prosecutor, he focuses his practice on government and internal corporate investigations and complex litigation matters.

Mr. Shecter serves as co-chair of Lewis Brisbois’ Government Investigations & White Collar Defense Practice, and chair of its Supply Chain Due Diligence Practice. A former federal prosecutor, he is also a member of the firm's Complex Business & Commercial Litigation, Sustainability and Environmental, Social, and Governance (ESG) Practices.

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