In a closing argument, a prosecutor told a New York jury to follow overwhelming evidence and the “pyramid of deceit” that FTX founder Sam Bankman-Fried constructed to conclude he's guilty of fraud charges.
FILE - FTX founder Sam Bankman-Fried arrives at Manhattan federal court, Friday, Aug. 11, 2023, in New York. A lawyer for Bankman-Fried said Wednesday, Oct. 25, 2023, the FTX founder plans to testify at his fraud trial. – In a closing argument, a prosecutor told a New York jury Wednesday to follow overwhelming evidence and the “pyramid of deceit” that FTX founderconstructed to conclude he’s guilty of defrauding his customers and investors of at least $10 billion.
The prosecutor said Bankman-Fried wanted jurors to believe that he had no idea what was happening at his companies or what was happening was wrong, but that his words conflicted with the testimony of his fellow executives, his “partners in crime,” and other evidence including financial documents and public statements Bankman-Fried had made.
Roos said the arrest of Bankman-Fried came weeks after thousands of FTX customers worldwide were overcome with anxiety, dread and ultimately despair when they tried to withdraw “investments, savings and nest eggs for the future” from their accounts only to learn that “their money was gone. FTX was bankrupt.”
“This was a pyramid of deceit built by the defendant on a foundation of lies and false promises, all to get money, and eventually it collapsed, leaving countless victims in its wake,” he said.
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