Defendants Testifying in Their Criminal Trials: Lessons Learned from High-Profile Cases

Former U.S. President Donald Trump is facing a criminal trial stemming from hush money paid to a porn star, and his lawyer recently stated that a decision has not been made on whether Trump will testify in his own defense. While this move may seem uncommon and risky, other high-profile defendants have chosen to testify in their own trials in recent years.

One such case involved FTX founder Sam Bankman-Fried, who testified in his New York trial last year on charges of defrauding customers, investors, and lenders to his cryptocurrency exchange. Despite admitting to mistakes that hurt investors, Bankman-Fried maintained that he believed his hedge fund, Alameda Research, had the assets to repay FTX. Unfortunately, he was convicted on fraud and conspiracy counts and sentenced to 25 years in prison. However, he is currently appealing the decision.

Another notable case was that of Theranos founder Elizabeth Holmes, who took the stand at her criminal trial in 2021. Holmes faced accusations of making false claims about her blood-testing startup, Theranos, but she maintained that she did not intend to defraud investors. Ultimately, she was convicted on multiple counts and sentenced to over 11 years in prison. Like Bankman-Fried, Holmes is appealing her conviction.

In a different outcome, Colony Capital founder Tom Barrack testified at his 2022 trial on charges of acting unlawfully as an agent of the United Arab Emirates. Barrack, who denied taking direction from the UAE, was acquitted of all nine counts he faced. Similarly, former KPMG partner David Middendorf testified in his trial but ultimately had the charges against him dropped due to a ruling by the U.S. Supreme Court.

Finally, Privinvest executive Jean Boustani testified in his own defense in a case involving alleged fraud in bonds backed by the Mozambican government. Despite prosecutors’ claims of bribery and kickbacks, Boustani maintained that he had no part in packaging the loans for investors and was ultimately cleared of all charges.

While the decision to testify in one’s own criminal trial can be risky, it has been done by several high-profile defendants in recent years, with varying outcomes. As Donald Trump considers whether to take the stand in his own defense, only time will tell what the future holds for the former president.