Trial Begins for Sam Bankman-Fried On Fraud, Conspiracy Charges In FTX Crypto Collapse

  • Sam Bankman-Fried, founder of the now bankrupt crypto-trading platform FTX, stands trial starting Tuesday in what federal prosecutors have called one of the biggest financial frauds in U.S. history.
  • The 31-year-old Bankman-Fried has pleaded not guilty to seven counts of fraud and conspiracy in connection with the collapse of FTX.
  • He could spend the rest of his life in prison, if convicted and sentenced to the maximum punishment.
  • Prosecutors alleged Bankman-Fried stole billions of dollars from FTX customer funds for his own personal use and to cover huge losses incurred by a crypto hedge fund he also controlled.
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