US EditionSam Bankman-Fried: FTX crypto empire 'built on lies' - prosecutors
- The former CEO of FTX, Sam Bankman-Fried, is facing charges that his bankrupted empire was built on lies. Prosecutors allege that he stole billions from clients and investors to commit fraud on a massive scale.
- Bankman-Fried's defense argues that he was acting in good faith and that he is a math nerd. They claim he did not appropriate any funds.
- The US Department of Justice accuses Bankman-Fried of using customer funds for personal expenses and political donations. He is also alleged to have lied to users, investors, and lenders to cover up his crimes.
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67 Articles
FTX co-founder testifies against Sam Bankman-Fried, saying they committed crimes and lied to public
By LARRY NEUMEISTER Associated Press NEW YORK (AP) — FTX’s co-founder has begun to tell a New York jury that he and Sam Bankman-Fried committed financial crimes and lied to the public before the cryptocurrency trading platform collapsed last year. Gary Wang started testifying in Manhattan federal court late Thursday, the first of three former top executives expected to boost the prosecution’s fraud case against the 31-year-old Bankman-Fried. Wan…
Sam Bankman-Fried trial: FTX boss stole over $10bn from customers in 'empire built on lies', jury told
A New York court heard that the 31-year-old founder of trading platform FTX, which collapsed in November last year, deleted messages and backdated documents to cover up his crimes.
Bankman-Fried trial: Crypto was not for everyone, says FTX founder's lawyer
FTX founder Sam Bankman-Fried's lawyer Mark Cohen said on Wednesday (Oct 4) that crypto was not for everyone and acknowledged that his client was in a risky business. In his opening statement at Bankman-Fried's trial, Cohen said, "You will learn that crypto was not for everyone. On the one hand, it was new and exciting." "But on the other hand, many factors that nobody controlled could make crypto go up and down in value. So too crypto companies
FTX founder Sam Bankman-Fried is standing trial in Manhattan for fraud. Here's how it's unfolding
Former FTX CEO Sam Bankman-Fried's trial has begun in Manhattan. He could face decades in prison after being accused of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research.
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