Opening statements set to begin at trial of FTX founder Sam Bankman-Fried

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Opening statements were set to begin Wednesday after a jury was chosen to hear the fraud trial of FTX founder Sam Bankman-Fried in New York City.

Bankman-Fried, 31, maintains he was not to blame for fraud that prosecutors allege in seven charges brought against him since his arrest last December in the Bahamas.

Bankman-Fried became a target of investigators when FTX collapsed last November amid a rush of customers seeking to recover their deposits, less than a year after Bankman-Fried spent millions of dollars on the 2022 Super Bowl with celebrity advertisements promoting FTX as the "safest and easiest way to buy and sell crypto.

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