US EditionBankman-Fried acknowledges in court customers hurt but denies fraud
- Sam Bankman-Fried, the founder of crypto exchange FTX, has testified in court, pleading not guilty to charges of fraud, securities fraud, and money laundering.
- Bankman-Fried admitted to making mistakes and not having proper risk management protocols in place, contributing to the losses suffered by customers and investors.
- The prosecution presented damning evidence, including testimony from former executives and internal documents, suggesting Bankman-Fried's involvement in diverting funds for personal use.
51 Articles
51 Articles
Sam Bankman-Fried testified before a jury that he thought FTX would have a 20% chance of success
The prosecution stated that FTX, “was built on lies,” and that SBF took the money from his company's clients to purchase beachfront property in the Bahamas and to pour money into political campaigns
FTX founder Sam Bankman-Fried acknowledges in court that customers were hurt but denies fraud
NEW YORK — Sam Bankman-Fried, testifying at his fraud trial Friday, cast himself as a bumbling cryptocurrency visionary who knew nothing about the industry when he started FTX or about marketing when he became the face of his company and not enough about his businesses to see they were $10 billion in the hole until shortly before they collapsed.
Alleged crypto conman Sam Bankman-Fried denies fraud on stand but admits ‘significant oversights’
In a last-minute gamble, alleged crypto conman Sam Bankman-Fried testified at his multi-billion dollar fraud trial on Friday, telling a Manhattan federal court jury he didn’t defraud his customers —
People got hurt in the collapse of FTX, but I didn’t defraud anyone, says Bankman-Fried
Sam Bankman-Fried, testifying in his own defence at his fraud trial yesterday, acknowledged that a “lot of people got hurt” when the FTX cryptocurrency exchange he founded collapsed, but said he did not defraud anyone or take customer funds.
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