Sam Bankman Fried takes the stage for a reside examination
Sam Bankman Fried took the stand. Monday’s testimony continues protection cross-examination, aiming to forged doubt on what earlier witnesses stated. Bankman-Fried has denied allegations by Carolyn Ellison, his former girlfriend and CEO of Alameda Analysis, that he directed FTX executives to commit crimes. He denies that he “embezzled and misappropriated” FTX shoppers’ funds, as prosecutors allege within the indictment.
Seems like he received a haircut this weekend. He wears a light-weight grey go well with and purple tie.
Questioning is predicted to start this week after the conclusion of Bankman-Fried’s protection. We watched a preview of federal prosecutors’ questioning Thursday with no jury, which noticed Bankman-Fried’s confidence within the stand diminish.
fundamental occasions
“Math nerd” or crypto prison? A query on the coronary heart of the Sam Bankman Fried trial
If there’s one query that has dominated the SBF fraud trial to this point, it may be summed up as follows: Which model of this know-how do you suppose bro?
Prosecutors have recognized Bankman-Fried because the mastermind of the $10 billion fraud, among the many largest and most harmful in American historical past. They are saying he selfishly squandered the cash of consumers who put their belief in FTX. They declare he spent the cash on lavish properties, illicit affect, glamorous journey, and high-profile promoting, all whereas hiding a hidden mountain of debt.
In contrast, his attorneys did their greatest to painting him as a wayward boy genius — “a math geek who by no means drank or partied,” in keeping with his lawyer’s opening assertion. They describe the motive behind his actions as not a lot malice as lack of expertise in regular enterprise operations.
Bankman-Fried’s determination to take the stand in his personal protection will present jurors with a possibility to contemplate, as he put it, which model to imagine.
Through the weeks-long cryptocurrency fraud trial, former enterprise companions and members of Sam Bankman-Fried’s internal circle took the stand in opposition to him.
The prosecution’s star witness was Caroline Ellison, Bankman-Fried’s ex-girlfriend and former Alameda CEO. She testified that he directed her to commit crimes, saying he withdrew $10 billion in consumer funds from FTX to prop up Alameda after the cryptocurrency market collapsed. She supplied gorgeous and detailed testimony in opposition to the failed cryptocurrency mogul.
Her accusations present proof of what Bankman-Fried may be making an attempt to refute when he takes the stand at the moment.
This is a abstract of the 5 issues we discovered.
Sam Bankman Fried, 31, is testifying in a New York Metropolis courtroom at the moment, his third day on the stand and second in entrance of a jury. His first day of testifying was an evidentiary listening to when the choose dismissed the jury.
Bankman Fried was charged with seven counts of wire fraud and cash laundering conspiracy following the collapse of his cryptocurrency alternate, FTX. Prosecutors say the founder “embezzled and misappropriated” billions of {dollars} from unwitting FTX shoppers to pad shortfalls at Alameda Analysis, a hedge fund linked to FTX. He additionally allegedly used the ill-gotten beneficial properties to make speculative investments, safe celeb endorsements and donate to political campaigns.
Wire fraud convictions may end up in many years in jail. If convicted of a number of prices, Bankman-Fried faces as much as life in jail.
He pleaded not responsible to all prices. You may learn an in-depth rationalization right here.
Through the weeks-long trial, former enterprise companions and members of Bankman-Fried’s internal circle took the aspect in opposition to him. The prosecution’s star witness was Caroline Ellison, Bankman-Fried’s ex-girlfriend and former Alameda CEO. She testified that he directed her to commit crimes, saying he withdrew $10 billion in consumer funds from FTX to prop up Alameda after the cryptocurrency market collapsed.
What are the costs in opposition to Sam Bankman Fried and does he face jail time?
Sam Bankman Fried31, testifies in a New York Metropolis courtroom at the moment, his third day of testimony and second in entrance of a jury.
Bankman Fried was charged with seven counts of wire fraud and cash laundering conspiracy following the collapse of his cryptocurrency alternate, FTX. Prosecutors say the founder “embezzled and misappropriated” billions of {dollars} from FTX shoppers to fill shortfalls at Alameda Analysis, a hedge fund linked to FTX and run by his ex-girlfriend Carolyn Ellison. Bankman-Fried additionally allegedly used the illicit funds to make speculative investments, safe celeb endorsements, and donate to political campaigns.
Wire fraud convictions may end up in many years in jail. If convicted on a number of prices, Bankman-Fried might resist life in jail.
He pleaded not responsible to all prices. You may learn an in-depth rationalization right here.
