Former crypto star Sam Bankman-Fried faces US trial

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 66%

Law Law Headlines News

Law Law Latest News,Law Law Headlines

NEW YORK: Sam Bankman-Fried, once the most respected face of cryptocurrency, goes on trial on Tuesday (Oct 3) in US federal court facing seven counts of fraud that could see him spend decades in prison. The curly-haired graduate of the Massachusetts Institute of Technology in just a few years turned his FT

Manhattan US Attorney Damian Williams has accused him of diverting funds from FTX clients, but also wire fraud, securities and commodities fraud, and money laundering.

According to prosecutors, while holed up at his parent's home, Bankman-Fried passed on documents to the New York Times in an attempt to influence the testimony of Caroline Ellison, his ex-girlfriend and a former Alameda executive. They are expected to take the stand in his six-week trial - where Bankman-Fried will likely admit egregious management errors but no wrongdoing, and point the finger at Ellison.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in LAW

Law Law Latest News, Law Law Headlines