Sam Bankman-Fried has concluded his final testimony in his prison trial and now the destiny of the previous FTX CEO lies within the fingers of Jurors with the facility to convict him to his sentence or exonerate him.
Former FTX CEO Testimony Reaches Climax
Founder and former CEO of failed FTX Buying and selling Ltd, Sam Bankman-Fried has been on trial after being accused of seven counts of fraud and conspiracy prices associated to the collapse of the now-bankrupt crypto trade.
The previous CEO has continuously pleaded not responsible on all prices and took the stand for the primary time final Friday to personally defend his case on the fraud trial.
Tuesday marked the Bankman-Fried’s final day of testimony in a courtroom trial headed by Choose Lewis A. Kaplan and the FTX founder was seen to be fighting the barrage of questions delivered to him by prosecutors.
When Assistant US Lawyer Danielle Sassoon probed Bankman-Fried on his stance on cryptocurrency trade rules and if he advocated for it, the previous FTX CEO affirmed he did so to Congress. Nevertheless, the prosecutors revealed proof of Bankman-Fried declaring profanities to regulators and clients.
Following the completion of his testimony, the protection rested its case and now the courtroom’s focus is on the subsequent part of the trial which is the closing arguments, scheduled to start on Wednesday.
Throughout this part, the prosecutors and protection will ship their last arguments to the 12 Jurors consisting of 9 girls and three males a few of whom are nurses, social staff, academics, and extra.
Sam Bankman-Fried is presently out of alternatives to additional persuade the Jurors, and the testimony of a few of his closest work colleagues and staff, Gary Wang, Nishad Singh, Adam Yedidia, and former girlfriend, Caroline Ellison have made his protection and trial case extra difficult.
Sam Bankman-Fried Denies Prior Information Of Misappropriated Buyer Funds
In his latest testimony, Sam Bankman-Fried denied all allegations of being conscious of the billions of {dollars} in buyer funds misappropriated earlier than the collapse of FTX.
When requested by Danielle Sassoon throughout his testimony if he had warned his staff to not spend buyer funds, Bankman-Fried’s major response was not having the ability to bear in mind giving any directive.
The previous CEO repeatedly informed the courtroom that he had not defrauded anybody or embezzled buyer funds. As a substitute, he unfold the blame on his former staff and mates, stating that he regretted not correctly trying into the $8 billion shortfall in FTX’s stability sheet.
Bankman-Fried testified that when he requested his executives concerning the shortfall, they said that they have been preoccupied and informed him to cease asking questions because it was distracting.
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