“He poured money — other people’s money — into investments to make himself even richer,” the prosecutor said in opening arguments.
A federal judge has chosen the 12 people who will decide whether FTX founder Sam Bankman-Fried violated fraud and other laws in running his once-mighty crypto exchange.
O’Leary, an entrepreneur and television personality, was paid $15 million by FTX for “20 service hours, 20 social posts, one virtual lunch and 50 autographs,” according to Michael Lewis’ new book “Going Infinite.”
Michael Lewis’ “Going Infinite” outlines how the FTX CEO was worried his employees had gotten too rich because SRM’s price had gone up so much. So, he made it impossible for them to sell for longer.
Sam Bankman-Fried cannot blame FTX’s lawyers for its collapse or operations in his opening statements, though he can still try and make a so-called “advice-of-counsel” defense later, the federal judge overseeing his case ruled Sunday.
The U.S. Department of Justice said it intends to call FTX customers, investors and cooperating witnesses to testify against Sam Bankman-Fried at trial next week, including a Ukrainian local who would have difficulty getting to the courthouse in-person.
Sam Bankman-Fried’s attorneys objected to some of the U.S. Department of Justice’s proposed voir dire questions in a late Friday filing, saying they may miss potential juror bias or otherwise lead to jurors making assumptions about the case.
FTX was hacked in November 2022, hours after the global crypto empire declared bankruptcy and its founder Sam Bankman-Fried stepped down from running the company.
The U.S. Department of Justice said in a Wednesday court filing that Sam Bankman-Fried’s latest move for a temporary release – even with severe restrictions – should be denied.
The bankrupt crypto exchange has sued former employees of Salameda, a Hong Kong-incorporated affiliate, to recover about $157.3 million.