THE VERGE
Sam Bankman-Fried will testify at his criminal fraud trial on Thursday as he faces charges of fraud, conspiracy, and money laundering related to his failed cryptocurrency exchange FTX.
Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, is on trial for seven counts of wire fraud and conspiracy. FTX was a fraud “from the start,” the Securities and Exchange Commission alleges — with a “multi-billion-dollar deficiency caused by his own misappropriation of customer funds.”
During a conference call on Wednesday, attorney Mark Cohen confirmed Bankman-Fried will take the stand. The move isn’t much of a surprise, considering the time Bankman-Fried spent speaking on his own behalf between the collapse of FTX last year and his eventual arrest last December.
“We’re going to put on three witnesses — then our client,” Cohen said during the call, according to the Inner City Press.
