GUARDIAN US: Founder of FTX platform, 31, painted by prosecution as scammer and liar who defrauded customers out of billions of dollars
Sam Bankman-Fried’s crypto fraud trial neared its end with closing arguments on Wednesday in Manhattan federal court following weeks of testimony that lifted the veil of FTX’s stunning collapse – and a broader murkiness surrounding digital currency markets. The prosecution quickly painted Sam Bankman-Fried as an unabashed scammer rather than the image of the wayward math nerd proffered by the defense throughout the trial, saying he created a “pyramid of deceit” with his cryptocurrency exchange, FTX.
Assistant US attorney Nicholas Roos also used Bankman-Fried’s own testimony against him.
“FTX was bankrupt. Billions of dollars from thousands of people, gone,” Roos said. “He spent his customers’ money, and he lied about it.” » | Victoria Bekiempis in New York | Wednesday, November 1, 2023
Sam Bankman-Fried’s fraud trial testimony: six key takeaways: FTX founder, once the darling of Washington and Silicon Valley, blamed his ex-girlfriend and said ‘I do not recall’ a lot »
Sam Bankman-Fried denies messy hair part of ‘tech genius’ persona during trial: Disgraced former CEO of crypto exchange FTX admits to disparaging regulators on third day of testimony »
Sam Bankman-Fried’s Trial Nears Finish as Closing Arguments Are Made: Prosecutors said Mr. Bankman-Fried had built his FTX crypto exchange into a “pyramid of deceit” while the defense said he was simply a “math nerd” who had no intent to defraud. »
