What happened at FTX Trial? Caroline Ellison and Gary Wang Throwing Sam Bankman Fried Under the Bus

The FTX trial began on October 4 with federal prosecutors opening the criminal trial of Sam Bankman-Freed with a simple message: He deliberately “lied to the world,” leading to one of the biggest financial frauds of a generation. Bankman-Freed’s lawyer advanced a far different narrative. the lawyer said he was simply a well-intentioned entrepreneur who acted “in good faith” to make his firm successful, with no intention to defraud anyone

Sam has been charged with orchestrating a conspiracy to use $10 billion that FTX’s customers had entrusted to him for all manner of personal projects, including venture capital investments, political donations, and luxury real estate purchases.

Sam Bankman-Freed, has called himself “one of the most hated people in the world,” and he has pleaded not guilty to seven counts of fraud and money laundering. Three of his top executives have pleaded guilty to fraud and agreed to cooperate against him, including his on-and-off girlfriend, Caroline Ellison. If Sam gets convicted, he could face 110 years in prison.

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