Bankman-Fried’s bid for crucial documents in fraud case denied by judge.

According to Bloomberg, Sam Bankman-Fried, one of the co-founders of FTX, was denied access to documents from Fenwick & West LLP, a Silicon Valley law firm, as part of his defense strategy in his federal fraud case. Bankman-Fried had hoped to use these documents to prove that he relied on legal advice while engaging in activities for which he is currently being prosecuted. However, U.S. District Judge Lewis Kaplan dismissed his request, calling it a “fishing expedition” that would not be justified. Bankman-Fried’s legal team had planned to argue that he had relied on the advice provided by Fenwick & West in his defense. The law firm’s advice reportedly covered topics such as the use of encrypted messaging apps, multimillion-dollar loans to FTX executives, and compliance with U.S. banking regulations, which Bankman-Fried’s lawyers have argued are integral to the charges leveled against their client.

Bankman-Fried is currently facing two criminal trials for allegedly orchestrating a complex fraud scheme that involved misappropriating billions of dollars in FTX customer funds. The funds were allegedly used for high-risk investments, personal expenses, and even political donations. In June, FTX initiated a lawsuit in the U.S. Bankruptcy Court for the District of Delaware seeking to recover more than $700 million from investment firms linked to the company. The lawsuit targets K5 Global, Mount Olympus Capital, and SGN Albany Capital, along with their affiliated entities and K5 co-owners Michael Kives and Bryan Baum. FTX alleges that funds were transferred from its affiliated firm, Alameda Research, to these entities through shell companies, and it seeks to reclaim the funds as avoidable transactions.

Related: US lawmaker demands answers from SEC on docs related to Sam Bankman-Fried’s arrest

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