The prosecution came out swinging. Oddly, Bankman-Fried’s defense didn’t. Instead they blamed the fact FTX never hired a risk management officer.
I have never seen Sam Bankman-Fried so still as he was during the prosecution’s opening statement. The characteristic leg-jiggling was absent. He barely moved as the prosecutor listed the evidence against him: internal company files, what customers were told, the testimony of his co-conspirators and his own words. His hair was shorn, the result of a haircut from a fellow prisoner, the Wall Street Journal reported. He wore a suit bought at a discount at Macy’s, per the Journal; it hung on him.
Was he worried about what one might find? Sure, as Cohen put it, Bankman-Fried was a math nerd who didn’t party. That paints a picture of someone who’s pretty deliberate, particularly since he immediately left MIT and went to work on Wall Street. If he had been a party-hardy trainwreck, I could see overlooking a risk officer in order to do another line, or a supermodel, or something else important.
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