LATEST NEWS: Disgraced FTX founder Sam Bankman-Fried WILL testify in his fraud trial, lawyers say
- Prosecutors say the 31-year-old former billionaire embezzled clients to buy luxury properties and donate more than $100 million to political candidates
- His lawyers told the judge in the case that Bankman-Fried would take the stand
- Witnesses have portrayed him as the mastermind behind the scam
Disgraced crypto king Sam Bankman-Fried will take the stand in his fraud trial, his lawyers have announced.
The alleged fraudster has been portrayed as the mastermind of the scam behind his cryptocurrency exchange FTX during his trial in New York City.
His lawyers told the judge Wednesday that Bankman-Fried will defend his actions on the stand when the defense begins its case later this week, as reported by Bloomberg.
The 31-year-old former billionaire is facing allegations that he embezzled money from FTX clients to support his hedge fund Alameda Research, buy luxury properties and donate more than $100 million to US political candidates.
He launched the company in 2019 and it quickly grew into an enterprise worth tens of billions of dollars. Bankman-Fried recruited A-list celebrities from Tom Brady to Larry David to promote the company and also worked with prominent politicians such as Bill Clinton.
Disgraced crypto king Sam Bankman-Fried will take the stand in his fraud trial, it has been revealed