A New York jury has begun deliberating whether FTX founder Sam Bankman-Fried was guilty of fraud in the disappearance of billions of dollars from his customers' accounts on the cryptocurrency exchange.
In this courtroom sketch, FTX founder Sam Bankman-Fried, right, testifies as Judge Lewis Kaplan, upper left, presides during Bankman-Fried's trial in Manhattan federal court, Tuesday, Oct. 31, 2023, in New York. A pie chart showing where all the customer funds were spent is displayed on monitors. was guilty of fraud in the disappearance of billions of dollars from his customers’ accounts on the cryptocurrency exchange he created four years ago.
He was extradited to New York from the Bahamas last December to face fraud charges. He’s been jailed since August, when Judge Lewis A. Kaplan ruled that he'd tried to influence potential trial witnesses and could no longer remain free on the $250 million personal recognizance bond that required him to remain at his parents' Palo Alto, California, home.
Sassoon, who cross examined Bankman-Fried late last week and early this week, said Bankman-Fried wanted to be U.S. president some day but first wanted to have the biggest cryptocurrency exchange in the world. At its peak, FTX was the second-largest.
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