Bankman-Fried to testify in fraud trial after ex-colleagues turned on him

Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves following a hearing at Manhattan federal court in New York City on Jan 3, 2023. In a Wednesday telephone conference with US District Judge Lewis Kaplan, who oversees the case in Manhattan federal court, Bankman-Fried's lawyer Mark Cohen said the defense planned to call three other witnesses to testify briefly after prosecutors finish presenting their case.

Three former members of Bankman-Fried's inner circle, who pleaded guilty and agreed to cooperate with prosecutors, testified that he directed them to commit crimes, and was aware his hedge fund Alameda Research had taken billions of dollars from FTX customers without their consent. They have also sought to blame FTX's collapse on Bankman-Fried's inner circle, including his former girlfriend and Alameda chief executive Caroline Ellison, saying they tailored their testimony in the hope of receiving lenient sentences.

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