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S.B.F. Is Blaming It All on the Lawyers

Bankman-Fried is relying, in part, on a complicated and risky advice-of-counsel strategy. It might lead to one of the more dramatic courtroom moments in recent legal history.

Sam Bankman-Fried
Federal prosecutors are determined to prevent any resurrection of the S.B.F. legend. Photo: Tom Williams/CQ-Roll Call/Getty Images
Eriq Gardner
September 18, 2023

For years, Sam Bankman-Fried carefully cultivated an image as a disheveled prodigy who cared more about using crypto to uplift the poor than enriching himself. Of course, as it turned out, S.B.F. wasn’t just playing video games, giving away his money, and driving a Toyota Corolla, as has been widely reported. He was also spending millions of dollars to hang out with celebrities and fly private, living in a $40 million penthouse and lending himself billions of dollars to acquire luxury properties across the Bahamas.