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Testimony from Sam Bankman-Fried's trusted inner circle will be used to convict him, prosecutors say

  • FTX founder Sam Bankman-Fried is facing charges of defrauding investors and illegally diverting millions of dollars in cryptocurrency. Prosecutors claim that he misappropriated funds to fuel his businesses, make illegal campaign contributions, and enrich himself.
  • Testimony from Bankman-Fried's former executives at his collapsed cryptocurrency empire will be used as evidence to support the prosecution's claims. These executives have pleaded guilty to criminal charges and will testify about the unlawful conduct directed by Bankman-Fried.
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abc News broke the news in United States on Tuesday, August 15, 2023.
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