1 year ago
NEW YORK — Sam Bankman-Fried is acceptable to attest successful his transgression fraud proceedings tied to the opening arsenic soon arsenic Thursday aft prosecutors telephone their last witness, FBI Special Agent Marc Troiano.
While Bankman-Fried has tried to framework the illness of his FTX crypto speech arsenic an unavoidable mishap – he gave interviews to reporters, started a Substack newsletter and tweeted to explicate his company's downfall aft it filed for bankruptcy successful November 2022 – helium is exposing himself to pugnacious questioning from prosecutors.
The erstwhile speech CEO is accused of misusing his customers' and investors' funds, to the tune of implicit $8 cardinal mislaid by the clip FTX filed for Chapter 11. The U.S. Department of Justice has argued implicit the past fewer weeks that Bankman-Fried directed assorted actions that fto Alameda Research – different of his firms – misappropriate funds and past hid losses until the "house of cards" abruptly collapsed.
Bankman-Fried's erstwhile colleagues and interior ellipse – erstwhile Alameda Research CEO Caroline Ellison, erstwhile FTX Director of Engineering Nishad Singh and erstwhile FTX Chief Technology Officer Gary Wang – each testified against him, telling a assemblage successful the New York courtroom that helium specifically directed them to let Alameda to pat FTX lawsuit funds and to fell those actions from the companies' investors.
The defence besides intends to telephone fiscal adept Joseph Pimbley, Bahamas-based lawyer Krystal Rolle and astatine slightest 1 different imaginable witness, pb defence lawyer Mark Cohen said during a teleconference connected Wednesday.
Edited by Nick Baker.
English (US) 