Sam Bankman-Fried Trial Is Under Way – Prosecutors Say His Crypto Empire Was ‘Built on Lies’ – Defense Says He ‘Acted in Good Faith’
The high profile trial of Sam-Bankman-Fried is under way, and right from the start, it became clear that Caroline Ellison, former CEO of Alameda Research (and Sam Bankman-Fried’s former girlfriend) was going to become the focal point of the FTX founder’s fraud trial in New York.
Sam Bankman-Fried, the second largest Democrat donor after George Soros, is alleged to be ‘the mastermind and leader of a multi-year criminal scheme that involved defrauding investors, lenders, and retail customers of billions of dollars, and spending fraud proceeds to corruptly influence United States politics’.
Prosecutors allege that SBF told Ellison and his closest co-workers about misusing customer funds, as he ‘lied to the world’ about the (lack of) safety of his crypto platform.
