The post Former FTX CEO Sam Bankman-Fried Ready to Testify in Fraud Trial! appeared first on Coinpedia Fintech News
Sam Bankman-Fried is set to testify in his criminal fraud trial today after prosecutors call their final witness. Bankman-Fried is accused of misusing over $8 billion of his customers’ and investors’ funds, leading to the collapse of FTX and subsequent bankruptcy filing in November 2022. The U.S. Department of Justice has argued that Bankman-Fried directed actions that let Alameda Research misappropriate funds and later hid losses until the collapse. Bankman-Fried has previously tried to frame the collapse as an unavoidable accident.
Source: https://coinpedia.org/crypto-live-news/former-ftx-ceo-sam-bankman-fried-ready-to-testify-in-fraud-trial/