Tuesday, December 5, 2023
HomeTechLive Updates: FTX Founder Sam Bankman-Fried Found Guilty of Fraud

Live Updates: FTX Founder Sam Bankman-Fried Found Guilty of Fraud

In its closing assertion yesterday, the prosecution pointed repeatedly to the distinction between the fluency and demeanor of Bankman-Fried below questioning by his personal attorneys and his evasiveness in cross-examination.

“Did you discover how on Friday [during direct examination] his testimony was clean, prefer it had been rehearsed a bunch of occasions?” mentioned Nicolas Roos, the prosecutor, and he “had an ideal reminiscence.” However when questioned by the federal government, Bankman-Fried “couldn’t bear in mind a single element about his firm or what he mentioned publicly.”

In cross-examination, there have been 140 situations during which Bankman-Fried had mentioned he couldn’t recall the reply to a query, mentioned Roos. When Bankman-Fried did reply, in the meantime, he “approached each query like up was down and down was up.”

The prosecution additionally sought to debunk the thought, peddled by the protection, that Bankman-Fried was largely unaware of the embezzlement of FTX buyer funds, or the extent of the monetary shortfall it created. To seek out Bankman-Fried not-guilty of fraud, Roos instructed the jurors, “you would need to consider that the defendant, who graduated from MIT, who ran two billion-dollar corporations and who was testifying in Congress, was truly clueless.”

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