Prosecutors say Sam Bankman-Fried lied under oath on the witness stand.
AdvertisementAdvertisementIn closing arguments for Sam Bankman-Fried's criminal trial Wednesday, prosecutors say the disgraced cryptocurrency mogul repeatedly lied on the witness stand.
Prosecutors allege Bankman-Fried defrauded millions of FTX customers by stealing their deposits and using them for Alameda.
He used the money, prosecutors say, for personal investments, to repay loans, in extravagant advertising, to buy properties around the world, and for political donations.
AdvertisementAdvertisementAlameda's account on FTX, Roos pointed out, did not even have the spot-margin trading option enabled.
Persons:
Sam Bankman, Fried, —, he's, Nicholas Roos, Roos, Mark Cohen, Danielle Sassoon, — Caroline Ellison, Gary Wang, Nashad Singh —, Ryan Salame, Adam Yedidia, Sun
Organizations:
Service, MIT, Alameda Research, Miami Heat, Prosecutors
Locations:
Manhattan, Bankman, Alameda, FTX, Washington