Sam Bankman-Fried has little to lose by bucking conventional wisdom and taking the stand at his criminal fraud trial, following weeks of testimony that he stole billions of dollars from unwitting customers of his FTX cryptocurrency exchange.to probing cross-examination by prosecutors who would come armed with documents, messages and testimony from co-operating witnesses that they can use to attack his credibility.
Elizabeth Holmes took the stand at her criminal trial, testifying over several days that she did not intend to defraud investors in her blood-testing startup, Theranos. Holmes was ultimately convicted on four out of 11 counts and sentenced to more than 11 years in prison. The 31-year-old former billionaire has already taken an unusual approach for a criminal defendant. Instead of laying low after he was charged, he published blog posts on his view of what went wrong and met with several journalists.
Ellison was one of three former members of Bankman-Fried’s inner circle who testified at trial, saying they committed crimes with him and adding to a portrayal by the government that Bankman-Fried’s attorneys have called a “cartoon of a villain.”
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