Sam Bankman-Fried took a big risk by testifying in his own trial. It did not go well

FTX founder Sam Bankman-Fried arrives at the U.S. federal courthouse in New York City to submit his not guilty plea on March 30, 2023. Bankman-Fried faced this week tough questioning from prosecutors who sought to paint him as the mastermind behind a massive fraud at FTX.FTX founder Sam Bankman-Fried arrives at the U.S. federal courthouse in New York City to submit his not guilty plea on March 30, 2023.

Bankman-Fried seemed to have a difficult time remembering key conversations and meetings."I don't recall," he said repeatedly. New York Times journalist Andrew Ross Sorkin talks to Bankman-Fried on stage at the 2022 New York Times DealBook event in New York City on Nov. 30, 2022. Bankman-Fried talked frequently with the media and in other venues. Those words are now coming back to bite him.Bankman-Fried was the public face of FTX. He appeared on magazine covers and at big business conferences, and he frequently hung out with celebrities including Tom Brady.

Above all, Sassoon was prepared. When Bankman-Fried said he couldn't remember something, she would confront him with the evidence in the form of an email, or a tweet, or an excerpt from an interview.Caroline Ellison, the former head of Alameda Research, leaves Manhattan Federal Court in New York City after testifying during Bankman-Fried's trial on Oct. 10, 2023. Ellison was among the prosecutors' witnesses who testified that Bankman-Fried had directed them to commit crimes.

He blamed his top lieutenants at FTX and Alameda for mismanaging things, including Caroline Ellison, a former girlfriend and CEO of Alameda, who had testified he had directed her to commit crimes.

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