Bankman-Fried may think he’s helping himself by making FTX’s collapse sound like a business mistake rather than a colossal fraud. But prosecutors can pick apart his public statements for inconsistencies and use his statements to show the extent of his knowledge or the facts that he has conveniently forgotten now that he faces scrutiny.
Under US rules of evidence, Bankman-Fried could not introduce his own statements in his defense at trial because they would constitute hearsay. But the government could use his statements against him.
This one-sided rule means that his statements can only hurt him and never help him. So, a good defense would start with remaining silent.
Source: Sam Bankman-Fried Needs to Lawyer Up, Get Smart, and Stop Talking
