The former FTX CEO is predicted to testify once Thursday.
October 25, 2023, 11:14 AM
Former FTX CEO Sam Bankman-Fried is predicted to testify once Thursday in his own protection, his lawyers signaled throughout a phone listening to Wednesday whilst the trial is paused.
The fraud trial in Manhattan federal courtroom resumes Thursday, when the federal government is predicted to leisure its case.
Defense legal professionals plan to place on a restricted case, together with testimony from Bankman-Fried. The former crypto billionaire faces seven counts of fraud, conspiracy and cash laundering focused on his alleged use of shopper deposits at the crypto buying and selling platform FTX to hide losses at his hedge fund, Alameda Research, and to shop for lavish actual property, amongst different private bills.
He has pleaded now not to blame to all counts. If convicted, he may face a sentence of as much as 110 years in jail.
Bankman-Fried stepped down from his function at FTX in November 2022 amid a speedy cave in that ended with the corporate pointing out chapter. Prosecutors charged Bankman-Fried the next month with an array of alleged crimes interested by a scheme to defraud buyers.
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