Sam Bankman-Fried’s attorneys are planning to put ahead an expert witness to counter testimony from former Alameda Research CEO Caroline Ellison and different witnesses concerning the extent of economic ties between FTX and the buying and selling agency.
In an Oct. 23 letter to New York District Judge Lewis Kaplan, Bankman-Fried’s attorneys mentioned Joseph Pimbley from litigation consulting agency PF2 Securities would testify on behalf of the previous FTX CEO.
The letter lays out that Pimbley will testify — primarily based on FTX database info — that Alameda’s line of credit score with FTX “fluctuated between approximately $1 billion and $3 billion” between October 2021 and September 2022 and decreased in June 2022, which has the purpose of creating a definitive timeline for the road of credit score.
Pimbley can even testify that almost all of balances for non-FTX and non-Alameda customers are in United States {dollars}, Bitcoin (BTC), Ether (ETH) and Tether (USDT), and over 75% of non-FTX and Alameda consumer balances “arise from accounts that have spot margin enabled, spot margin lending enabled, or show futures activity,” which may present context to testimony made by former FTX executives.
The testimony can be set to rebuff a testimony by Ellison, FTX co-founder Gary Wang, former FTX engineering director Nishad Singh and former FTX employee Adam Yedidia relating to Alameda’s line of credit score and FTX buyer use of margin buying and selling.
Pimbley is ready to counter Ellison’s testimony that Alameda had “an essentially unlimited line of credit on FTX” and Wang’s testimony that the agency had borrowed “around $3 billion” from the credit score line.
Related: FTX creditor claims breach the 50c mark as buyers see light at the end of the tunnel
Pimbley’s 54-page disclosure particulars varied charts, spreadsheet excerpts, diagrams and database queries pulled from FTX’s Amazon Web Services database that relate to FTX’s line of credit score with Alameda between October 2021 and November 2022.
Pimbley is being remunerated at a rate of $720 an hour plus bills for his work, however he mentioned he has “no financial interest in the outcome of this case.”
He was certainly one of seven expert witnesses earlier put ahead by Bankman-Fried’s authorized staff, which Judge Kaplan barred from testifying however allowed future testimony in the event that they have been to reply to authorities witness testimony and make clear their claims.
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