Sam Bankman-Fried’s expert witness Joseph Pimbley is set to rebuff testimony from former FTX and Alameda Research executives on the line of credit between the two firms.
Former FTX CEO Sam Bankman-Fried intends to call on a financial expert to rebuff testimonies from Caroline Ellison, Gary Wang, Nishad Singh and Adam Yedidia.Sam Bankman-Fried’s lawyers are planning to put forward an expert witness to counter testimony from former Alameda Research CEO Caroline Ellison and other witnesses about the extent of financial ties between FTX and the trading firm.
The letter lays out that Pimbley will testify — based on FTX database information — that Alameda’s line of credit with FTX “fluctuated between approximately $1 billion and $3 billion” between October 2021 and September 2022 and decreased in June 2022, which has the goal of establishing a definitive timeline for the line of credit.
Pimbley will also testify that the majority of balances for non-FTX and non-Alameda users are in United States dollars, Bitcoin , and over 75% of non-FTX and Alameda user balances “arise from accounts that have spot margin enabled, spot margin lending enabled, or show futures activity,” which could provide context to testimony made by former FTX executives.
Highlighted excerpt of the letter on testimony Pimbley will counter regarding FTX customer trading. Source: CourtListenerPimbley is set to counter Ellison’s testimony that Alameda had “an essentially unlimited line of credit on FTX” and Wang’s testimony that the firm had borrowed “around $3 billion” from the credit line.
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