That's what 12 jurors in a Manhattan courtroom will have to decide on Thursday when deliberations begin on the seven federal charges against Sam Bankman-Fried, the 31-year-old FTX co-founder accused by the government of orchestrating and forcing his underlings to carry out one of the largest financial frauds in U.S. history.
Defense attorneys countered that Bankman-Fried was young and in over his head and caught up in the fast-paced and largely unregulated world of cryptocurrency. While admitting mistakes were made, they said he acted"in good faith" and shouldn't be held accountable. The defense has argued it isn't a crime"to be the CEO of a company that needs to fold for bankruptcy."
Many of the key players in the alleged con have testified for the prosecution against Bankman-Fried, including his ex-girlfriend, Caroline Ellison, the former CEO of Alameda Research, as well as FTX co-founders Gary Wang and Nishad Singh. All three testified that Bankman-Fried knew for months that his out-of-control spending sprees were unsustainable and made possible by money siphoned from FTX customer accounts.
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LIVE: Sam Bankman-Fried Again Blames Underlings for Alameda's Woes in FTX TrialHelene is a New York-based news reporter at CoinDesk, currently covering the criminal trial of infamous crypto mogul Sam Bankman-Fried. Helene is a recent graduate of New York University's business and economic reporting program and has appeared on CBS News and Nasdaq TradeTalks. She holds BTC and ETH.
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Sam Bankman-Fried defense rests in criminal trial, closing arguments kick off WednesdaySam Bankman-Fried’s criminal trial is about to wrap up after the defendant’s testimony concluded on Tuesday and the jury was sent home
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