NEW YORK — In his final hours testifying at his own criminal fraud trial Tuesday, Sam Bankman-Fried faced the prosecution’s grilling with aThe former crypto mogul wrapped up his risky gambit testifying in his own defense by insisting he did not know about the alleged fraud at the core of the government’s case against him until last fall, just two months before his business empire collapsed.
Bankman-Fried’s version of events diverged starkly from the story that three of his former top deputies told in the opening weeks of the trial. They said they committed financial crimes at his direction in testimony they provided under cooperation agreements with the prosecution. But Sassoon continues to marshal prosecutors’ trove of records to elicit some damaging admissions. This included evidence suggesting the former crypto mogul cultivated a humble, do-gooder persona that obscured an appetite for luxury and a disdain for colleagues, followers and policymakers.
Federal prosecutors have accused Bankman-Fried of orchestrating one of the largest financial frauds in history by stealing as much as $10 billion in FTX customer money to pay for risky venture investments, lavish real estate purchases and dark-money political contributions. He has pleaded not guilty to seven counts of fraud and conspiracy. If convicted, he faces decades in prison.
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