Opening Arguments Made in Sam Bankman-Fried Trial
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O n Wednesday, October 4, 2023, opening arguments commenced in the trial of Sam Bankman-Fried, the former CEO of the cryptocurrency change FTX. Bankman-Fried faces seven counts, consisting of twine fraud and conspiracy to dedicate cash laundering. In his established statement, Assistant U.S. Attorney Thane Rehn informed jurors that Bankman-Fried built his empire "on lies." He stated that Bankman-Fried used the customer price range to prop up his very own buying and selling organization, Alameda Research, and to finance his lavish lifestyle. Rehn additionally stated that Bankman-Fried lied to regulators and investors approximately the monetary health of FTX. "He turned into a fraudster," Rehn stated. "He stole billions of bucks from his customers." Bankman-Fried's attorney, Mark Cohen, painted a special image of his purchaser. He said that Bankman-Fried was a "math nerd" who had become really looking to construct a a hit business. Cohen also s...