Sam Bankman-Fried is set to go on trial on charges of stealing billions of dollars from customers of his FTX cryptocurrency exchange starting on Tuesday, nearly a year after the company's collapse shocked markets and tattered his reputation.
Federal prosecutors say the 31-year-old former billionaire embezzled from FTX customers since its founding in 2019 through its November 2022 bankruptcy in order to prop up his hedge fund Alameda Research, buy luxury properties and donate more than $100 million to U.S. political candidates.to seven counts of fraud and conspiracy. He has acknowledged inadequate risk management but denied stealing funds.
In Manhattan federal court, U.S. District Judge Lewis Kaplan will ask a pool of New York residents questions about their backgrounds and experiences in an effort to weed out any prospective jurors who may be biased. Bankman-Fried's lawyers have signaled they plan to challenge the credibility of those witnesses — who include former Alameda chief Caroline Ellison and former FTX executives Gary Wang and Nishad Singh — by arguing they are motivated to implicate their client to get a lower sentence, a common strategy in white collar fraud cases.
Bankman-Fried's is the highest-profile case U.S. prosecutors have so far brought against a former cryptocurrency executive.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Sam Bankman-Fried opposes Ukraine FTX victim testifying remotely, lawyers tell trial judgeThe former FTX CEO's criminal trial is due to begin on Tuesday.
Weiterlesen »
Sam Bankman-Fried FTX trial — five things you need to knowFormer FTX CEO Sam Bankman-Fried begins trial, facing multiple allegations of fraud and conspiracy following the collapse of the cryptocurrency exchange.
Weiterlesen »
FTX Founder Sam Bankman-Fried’s Trial: How Did We Get Here?Prosecutors view it as one of the largest financial-fraud cases in U.S. history.
Weiterlesen »
FTX's Sam Bankman-Fried Goes on Trial Tomorrow; Ether ETF Race IntensifiesCrypto's biggest trial begins tomorrow and the outcome may hinge on Sam Bankman-Fried's former colleagues. VanEck head of digital assets product Kyle DaCruz discusses plans to roll out its Ethereum futures exchange-traded fund (ETF) as the race for ether (ETH) futures fund heats up. ETF Think Tank research director Cinthia Murphy also weighs in. And, Dexterity Capital managing partner Michael Safai shares his crypto market outlook as the U.S. government avoids a shutdown.
Weiterlesen »
FTX’s Sam Bankman-Fried is on trial for fraud and conspiracyDid the Good Boy of crypto break bad?
Weiterlesen »
[RE-AIR] FTX's Sam Bankman-Fried Goes on Trial Tomorrow; Ether ETF Race IntensifiesCrypto's biggest trial begins tomorrow and the outcome may hinge on Sam Bankman-Fried's former colleagues. VanEck head of digital assets product Kyle DaCruz discusses plans to roll out its Ethereum futures exchange-traded fund (ETF) as the race for ether (ETH) futures fund heats up. ETF Think Tank research director Cinthia Murphy also weighs in. And, Dexterity Capital managing partner Michael Safai shares his crypto market outlook as the U.S. government avoids a shutdown.
Weiterlesen »