FTX founder Sam Bankman-Fried looks on during his fraud trial as US District Judge Lewis Kaplan gives instructions to the jury and sends them out to deliberate, at the federal court in New York November 2, 2023, in this courtroom sketch. ― Reuters picNEW YORK, Nov 3 ― Jurors began deliberations in the trial of Sam Bankman Fried, the one-time cryptocurrency golden boy who is accused of massive fraud by stealing customer money as he built his empire.
In closing arguments, prosecutors portrayed the defendant as an extremely smart man consumed by greed who knew what he was doing when FTX funds were secretly funnelled to his personal hedge fund.“He was ambitious” and had “the arrogance to think that he could get away with a fraud,” she added. The money was used to prop up Alameda Research, Bankman-Fried's personal hedge fund for which he picked Ellison as CEO.
Source: Digital Coin News (digitalcoinnews.net)