Sam Bankman-Fried's fraud trial is set to resume on Tuesday with testimony from his former colleagues at the now-bankrupt FTX cryptocurrency exchange, including his onetime girlfriend Caroline Ellison.
Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, U.S., August 11, 2023. REUTERS/Eduardo Munoz//File Photo
The fifth day of the former crypto mogul's trial on charges of stealing billions of dollars in FTX customer deposits will kick off with defense lawyers' cross-examination of Gary Wang, the exchange's onetime technology chief. Prosecutors said last week they planned to call Ellison, the former co-chief executive officer of Bankman-Fried's Alameda Research hedge fund, to take the stand once Wang finishes his testimony.
Over the summer, Bankman-Fried shared Ellison's personal writings - in which she described feeling overwhelmed at work and hurt by a recent breakup with Bankman-Fried - with a New York Times reporter. U.S. District Judge Lewis Kaplan said that likely amounted to witness-tampering, and on Aug. 11 Wang and Ellison each pleaded guilty in December 2022 as part of a cooperation agreement with the U.S. Attorney's office in Manhattan. A third former member of Bankman-Fried's inner circle, ex-FTX engineering chief Nishad Singh, is alsothat Bankman-Fried knew FTX was in dire financial straits in November 2022 at the time he reassured customers in a now-infamous tweet that the exchange's assets were "fine.
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