Sure, he's reputation washing, but that’s less to avoid jail and more for future business opportunities, whether or not he goes to jail.
I think he probably believes he is both successfully reputation-washing and setting the foundations for a legal defence, but the whole reason he's in this position in the first place is that his gambles didn't pay off...
“When asked by Reuters why the couple decided to buy a vacation home in the Bahamas and how it was paid for -- whether in cash, with a mortgage or by a third party such as FTX -- a spokesman for the professors said only that Bankman and Fried had been trying to return the property to FTX.
"Since before the bankruptcy proceedings, Mr. Bankman and Ms. Fried have been seeking to return the deed to the company and are awaiting further instructions," the spokesperson said, declining to elaborate.“ https://www.reuters.com/technology/exclusive-bankman-frieds-...