Prior to his arrest, the FTX founder did a string of media interviews to tell his side of the story. In the courtroom, those comments came back to haunt him.
The simplest legal advice is to say nothing at all. Sam Bankman-Fried, founder of crypto exchange FTX, who recently took to the stand at his own fraud trial, isn’t very good at that. But, most likely, it won’t be his testimony that seals his fate. It will be the monthlong media tour he embarked on late last year, after FTX fell. Bankman-Fried is standing trial on seven counts of fraud in connection with the collapse of FTX.
” But Bankman-Fried says he consoled Singh, who was “very nervous, very halting,” and laid out a clear rationale for the spending. Under cross-examination by the prosecution, however, a different Bankman-Fried was on show—a more evasive, forgetful version. To questions posed about the events that led up to the FTX collapse or public comments made in the wake, Bankman-Fried almost always said he could not remember, or was noncommittal in his response.
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