With trial nearly over, defense says SBF is not a "villain" or "monster."
  • AutoTL;DR@lemmings.worldBEnglish
    1·
    1 year ago

    This is the best summary I could come up with:

    FTX founder Sam Bankman-Fried’s monthlong criminal trial neared its end today as the prosecution and defense presented closing arguments.

    Bankman-Fried is accused of defrauding customers and investors of cryptocurrency exchange FTX and its affiliate Alameda Research.

    “This was a pyramid of deceit built by the defendant on a foundation of lies and false promises, all to get money,” US prosecutor Nicolas Roos told the jury today, according to Reuters.

    Roos said there is “no serious dispute” that $10 billion in FTX customer money went missing and that the jury needs to decide whether Bankman-Fried knew his actions were wrong, according to CNBC.

    “Cohen said prosecutors elicited testimony about Bankman-Fried’s sex life and appearance—the former billionaire was known for his unkempt mop of curly locks and wearing shorts and T-shirts—to try to get the jury to dislike him,” Reuters wrote.

    The prosecution’s case relied partly on testimony of former FTX executives who pleaded guilty and agreed to cooperate with the government.

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