Former FTX chief Sam Bankman-Fried leaves the Federal Courthouse following a bail hearing on July 26, 2023. Photo: ANGELA WEISS / AFPFormer cryptocurrency whiz kid Sam Bankman-Fried knowingly stole money from customers of his FTX platform, US prosecutors told a federal
Bankman-Fried is on trial in New York for siphoning funds invested by unknowing customers on his FTX cryptocurrency exchange platform, once the second biggest exchange for crypto investors.Up to $14 billion of client money fuelled the transactions and venture investments of Alameda Research, Bankman-Fried's personally owned hedge fund."He knew it was wrong. He did it anyway thought because he was smart he could get away with it," the prosecutor argued.
"He lied to you," the prosecutor said of Bankman-Fried's repeated attempts to say he did not know of Alameda's dire straits or remember false statements that all was fine at his company.
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