Sam Bankman-Fried's fraud trial is set to resume on Tuesday with testimony from his former colleagues at the now-bankrupt FTX cryptocurrency exchange...
NEW YORK - Sam Bankman-Fried's fraud trial is set to resume on Tuesday with testimony from his former colleagues at the now-bankrupt FTX cryptocurrency exchange, including his onetime girlfriend Caroline Ellison.
Over the summer, Bankman-Fried shared Ellison's personal writings - in which she described feeling overwhelmed at work and hurt by a recent breakup with Bankman-Fried - with a New York Times reporter. U.S. District Judge Lewis Kaplan said that likely amounted to witness-tampering, and on Aug. 11 revoked Bankman-Fried's bail.
Wang and Ellison each pleaded guilty in December 2022 as part of a cooperation agreement with the U.S. Attorney's office in Manhattan. A third former member of Bankman-Fried's inner circle, ex-FTX engineering chief Nishad Singh, is also expected to testify at trial.Wang, 30, testified last week that Bankman-Fried knew FTX was in dire financial straits in November 2022 at the time he reassured customers in a now-infamous tweet that the exchange's assets were "fine.
Another defense lawyer, Mark Cohen, said in his opening statement last week that Alameda was given those privileges for "reasonable purposes" - part of the defense's effort to argue that Bankman-Fried took good-faith business decisions that backfired badly, but did not defraud customers. An Israeli woman held hostage in her home for 15 hours said she distracted Hamas militants with coffee and cookies until she was rescued
A woman taken hostage at the Israeli music festival didn't tell her family she was going so they wouldn't worry about her, her mom says
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