FTX founder Sam Bankman-Fried is set to retake the witness stand on Monday in his trial on fraud charges tied to the collapse of the cryptocurrency exchange, with prosecutors poised to challenge his assertion that he did not steal billions of dollars in customer funds.
NEW YORK, Oct 30 - FTX founder Sam Bankman-Fried is set to retake the witness stand on Monday in his trial on fraud charges tied to the collapse of the cryptocurrency exchange, with prosecutors poised to challenge his assertion that heBankman-Fried first is due to answer around two more hours worth of friendlier questions from his defense lawyer, Mark Cohen, who is expected to ask the 31-year-old former billionaire about his version of the dramatic events of November 2022, whenThree of...
During six hours of testimony on Friday about events earlier in 2022 and in prior years, Bankman-Fried sought to distance himself from specific actions he said the three cooperating witnesses took without his firsthand involvement. He also admitted to making "mistakes" that hurt FTX's customers and employees, but said he never set out to take customers' money.to two counts of fraud and five counts of conspiracy.
His decision to testify in his own defense is risky, as it opens him up to probing cross-examination by prosecutors. But legal experts told Reuters he may have viewed taking the stand as hisU.S. District Judge Lewis Kaplan has said jury deliberations could begin by Thursday or Friday.
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