Christian R. Everdell

FederalFederal Criminal TrialOct 3, 2023 – Nov 2, 2023

Christian R. Everdell cross-examined prosecution witnesses about Alameda's special FTX privileges, their cooperation incentives, and limits in digital, location, messaging, and fund-tracing evidence. For the defense, he examined witnesses on Bahamian asset-transfer orders and FTX database balances.

Day 2

Oct 4, 2023

ProceduralExhibit Admissibility HearingMarc-Antoine Julliard3lines spoken

DirectAdam Yedidia — DirectAdam YedidiaDanielle R. Sassoon12lines spoken

Summary

Adam Yedidia described his close relationship and work history with Sam Bankman-Fried, his resignation after learning Alameda had used FTX customer deposits to repay creditors, his immunity concerns, and FTX's marketing, website, and shared Bahamas residence.

Day 3

Oct 5, 2023

DirectAdam Yedidia — DirectAdam YedidiaDanielle R. Sassoon19lines spoken

Summary

Adam Yedidia explained how Alameda received and tracked FTX customer fiat deposits, testified that a corrected code bug revealed an approximately $8 billion liability, and described Bankman-Fried's knowledge, Signal auto-deletion policy, and response to concerns about the debt.

CrossAdam Yedidia — CrossAdam YedidiaChristian R. Everdell538lines spoken

Summary

Yedidia's cross-examination explored his limited financial role, FTX's controls and growth, his immunity and government preparation, the fiat-account bug, the approximately $8 billion liability remaining after correction, and the secondhand information that prompted his resignation.

RedirectAdam Yedidia — RedirectAdam YedidiaDanielle R. Sassoon10lines spoken

Summary

Yedidia distinguished knowing about Alameda's $8 billion liability from knowing customer funds had been spent, explained his "not bulletproof" interpretation and resignation, and addressed FTX spending, luxury housing, compensation, and the limits of his pre-November knowledge.

DirectGary Wang — DirectGary WangNicolas Roos6lines spoken

Summary

Gary Wang admitted participating in financial crimes and testified that Bankman-Fried directed undisclosed FTX code privileges allowing Alameda to withdraw customer assets into an $8 billion deficit and use a $65 billion line of credit.

Day 4

Oct 6, 2023

DirectGary Wang — DirectGary WangNicolas Roos24lines spoken

Summary

Gary Wang testified that Alameda received undisclosed code privileges and a line of credit exceeding $65 billion, used customer funds, accumulated multibillion-dollar shortfalls, and remained central to FTX's withdrawal crisis and post-bankruptcy asset transfers.

CrossGary Wang — CrossGary WangChristian R. Everdell234lines spoken

Summary

The defense presented operational reasons for Alameda's special FTX account features, while Wang confirmed their scale, described relying on Sam's judgment about Alameda borrowing, and clarified customer-fiat and stablecoin mechanics.

Day 5

Oct 10, 2023

CrossGary Wang — CrossGary WangChristian R. Everdell718lines spoken

Summary

The defense used Alameda balance calculations, promissory notes, Wang's earlier statements, and his cooperation history to argue for solvency and operational explanations while challenging his credibility and incentive to assist prosecutors.

RedirectGary Wang — RedirectGary WangNicolas Roos27lines spoken

Summary

Gary Wang testified that Alameda's special privileges supported billions in non-market-making withdrawals, its balance depended partly on illiquid FTT, and he admitted crimes with Bankman-Fried before obtaining a cooperation agreement.

sidebarExhibit 545 Time-Zone ObjectionDuring Gary Wang — Redirect3lines spoken

Summary

The defense raised a time-zone concern about Exhibit 545, and counsel also asked when to submit letters concerning the next day's testimony.

colloquyCourt's Examination of Gary WangGary Wang3lines spoken

Summary

The court questioned Gary Wang about a $35 million promissory note, the uncertain investment behind it, whether Wang received any proceeds or assets, and Alameda Research's ownership.

RecrossGary Wang — RecrossGary WangChristian R. Everdell2lines spoken

Summary

Gary Wang said his rough understanding was that he probably received equity stakes through the investments, but he was not entirely sure and had no paper documenting a specific holding.

Day 7

Oct 12, 2023

ProceduralEvidentiary Hearing on All-Hands Meeting Clips1highlight31lines spoken

Summary

The court allowed six government all-hands meeting clips at least as prior consistent statements, rejected defense clip 415A-T, and allowed defense clip 415B-T to follow them.

Highlights (1)

Quote“If all they want to do in furtherance of the conspiracy, to further the conspiracy, is to try to keep employees there and working so that maybe the company can survive if the Binance deal goes through, the last thing you are going to do is start divulging things about who knew what and when about the crime that you allegedly committed.”— Christian R. EverdellThe defense argued that disclosures to employees were inconsistent with the government's theory that the statements furthered a conspiracy.Open in transcript →

DirectChristian Drappi — DirectChristian DrappiDanielle Kudla26lines spoken

Summary

Alameda engineer Christian Drappi testified about Bankman-Fried's continuing access and trading influence, recounted Ellison's November 2022 shortfall disclosures, authenticated the all-hands recordings and transcripts, and said he resigned within 24 hours.

sidebarFoundation and Cumulative Evidence ObjectionDuring Christian Drappi — Direct5lines spoken

Summary

The parties disputed whether a low-level employee’s observations about Sam Bankman-Fried’s control were adequately founded or unnecessarily cumulative corroboration.

sidebarInstruction on a Prior Consistent StatementDuring Christian Drappi — Direct1line spoken

Summary

The government argued that a prior consistent statement was substantive evidence and should be admitted without a limiting instruction.

CrossChristian Drappi — CrossChristian DrappiChristian R. Everdell48lines spoken

Summary

Cross-examination limited Drappi's knowledge of Bankman-Fried's pointer use, identified other possible users, narrowed the audience and tone of Caroline's November remarks, and ended with admission and playback of Defense Exhibit 415B.

Day 8

Oct 13, 2023

ProceduralWitness Scheduling and Busick Exhibit Hearing6lines spoken

Day 10

Oct 17, 2023

DirectRichard Busick — DirectRichard BusickDanielle Kudla4lines spoken

Summary

FBI agent Richard Busick explained historical cell-site analysis and testified that AT&T records placed the 9179 phone in Manhattan or near specified meeting locations during several relevant periods.

CrossRichard Busick — CrossRichard BusickChristian R. Everdell34lines spoken

Summary

Defense counsel established that Richard Busick's cell-site analysis could suggest where the 9179 phone was located but could not identify its user or reveal call content.

Day 11

Oct 18, 2023

DirectCory Gaddis — DirectCory GaddisSamuel Raymond10lines spoken

Summary

Google records custodian Cory Gaddis explained Google's automatic metadata, authenticated files through a hash check, and supported the admission of 18 exhibits before interpreting selected fields in Government Exhibit 44M.

CrossCory Gaddis — CrossCory GaddisChristian R. Everdell12lines spoken

Summary

Cory Gaddis acknowledged that his Google duties centered on responding to legal process and that he had limited experience interpreting technical metadata fields.

ProceduralStipulation and Exhibit-Admissibility Hearing1highlight26lines spoken

Summary

After hearing relevance, Rule 403, and hearsay objections to Twitter-message exhibits, the court overruled the defense objections and admonished both sides to communicate better about metadata stipulations.

Highlights (1)

Quote“This is an after-the-fact statement maybe about his mental state on November 16, but it's not probative of his mental state prior to November 16 and it could be taken out of context, and the jury could use it inappropriately against my client.”— Christian R. EverdellThe defense's central argument was that the post-conspiracy messages did not reliably establish Mr. Bankman-Fried's earlier state of mind and could be misused by the jury.Open in transcript →

DirectShamel Medrano — DirectShamel MedranoDanielle R. Sassoon4lines spoken

Summary

Investigative analyst Shamel Medrano explained Twitter records and presented stipulated posts, direct messages, corporate documents, and deletion information tied to FTX, Alameda-affiliated entities, public representations, and private November 2022 communications.

CrossShamel Medrano — CrossShamel MedranoChristian R. Everdell24lines spoken

Summary

Medrano acknowledged that prosecutors selected the Twitter messages he reviewed and that he lacked personal knowledge of their completeness, participants, relationships, and surrounding context.

CrossPaige Owens — CrossPaige OwensChristian R. Everdell64lines spoken

Summary

Owens acknowledged that fund-tracing results depend on the chosen accounting method, attributed the identified VIEW PAC payment to Heller & Robbins after reviewing bank statements, and confirmed that she did not analyze the origin of funds entering Alameda or North Dimension accounts.

ProceduralGovernment Exhibit 505 Evidentiary Ruling4lines spoken

Day 14

Oct 26, 2023

DirectMarc Troiano — DirectMarc TroianoDanielle Kudla5lines spoken

Summary

FBI Special Agent Marc Troiano explained a chart summarizing 325 Signal groups involving Samuel Bankman-Fried, including 288 with auto-deletion enabled, while limiting his analysis to data from Gary Wang's laptop and Caroline Ellison's phone.

CrossMarc Troiano — CrossMarc TroianoChristian R. Everdell67lines spoken

Summary

Defense counsel tested the prosecution's role in preparing the Signal summary chart and Troiano's limited knowledge. After striking a misleading question and answer, the court restricted repetitive or out-of-scope questioning, while Troiano confirmed three entries attributed to SBF turning off auto-delete and a one-week setting for the “KYC/legal discuss” group.

sidebarSignal Group Redactions and Stricken TestimonyDuring Marc Troiano — Cross8lines spoken

Summary

Counsel discussed redacted Signal group names and how to correct a potentially misleading impression about why certain groups were removed.

ProceduralGovernment Rest, Rule 29, and Defense-Case PreparationKrystal Rolle31lines spoken

Summary

The government rested, the court denied the defense's Rule 29 motion, reviewed redacted materials for Krystal Rolle, and began the defense case with Rolle's testimony.

sidebarSalame’s Statement About Political DonationsDuring Government Rest, Rule 29, and Defense-Case Preparation2lines spoken

Summary

Counsel disputed whether a statement attributed to Salame was admissible as a coconspirator statement or a statement against interest.

DirectKrystal Rolle — DirectKrystal RolleChristian R. Everdell123lines spoken

Summary

Krystal Rolle described the Bahamian orders directing FTX Digital Markets asset transfers, Bankman-Fried's participation in the transfer process, and his subsequent interactions with regulators and police.

CrossKrystal Rolle — CrossKrystal RolleNicolas Roos7lines spoken

Summary

Krystal Rolle said she had no firsthand knowledge of FTX customer funds or spending and limited her information to events beginning November 12, 2022.

DirectJoseph Pimbley — DirectJoseph PimbleyChristian R. Everdell131lines spoken

Summary

Defense consultant Joseph Pimbley presented FTX database charts showing a sharp mid-June 2022 decline in Alameda's recorded credit use and November balances of about $5.8 billion in four selected currencies and $8.9 billion across all currencies, excluding Alameda and FTX entities. In the four-currency chart, 78 percent fell in the category combining spot-margin, spot-margin-lending, or futures-activity accounts. His work was limited to extracting and validating these figures.

CrossJoseph Pimbley — CrossJoseph PimbleyThane Rehn47lines spoken

Summary

Pimbley acknowledged that his defense charts were limited database extractions that did not address intent, asset tracing, customer shortfalls, or the significance of counsel-selected account categories; the court then began Bankman-Fried's admissibility hearing outside the jury's presence.

Day 16

Oct 30, 2023

ProceduralRebuttal Witness Disclosure and Trial Scheduling3lines spoken

Day 17

Oct 31, 2023

Charge ConferenceCharge Conference6lines spoken

Summary

The court resolved extensive disputes over the final jury charge and, after reconvening, ruled that the misappropriation theory would require proof of a false statement.

Day 19

Nov 2, 2023

ProceduralJury Deliberation Exhibit Procedures5lines spoken

ProceduralJury Communications and Exhibit Administration3lines spoken

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