Bankman-Fried Fraud Trial: Prosecutors Allege He Funneled Funds, While Defense Paints Overwhelmed Entrepreneur

Prosecutors allege Bankman-Fried committed fraud by funneling FTX customer funds to his investment firm Alameda Research. They argue he controlled both firms.

Key witness Caroline Ellison, Bankman-Fried's ex-girlfriend, testified he directed her to commit financial crimes. Her explosive testimony supported prosecutors.

The defense argues Bankman-Fried was an overwhelmed entrepreneur who delegated to deputies like Ellison. They say the firms grew too fast.

Judge Kaplan has admonished Bankman-Fried's lawyers, revoking bail and denying motions. This could signal skepticism toward the defense.

It's uncertain if Bankman-Fried will testify. Doing so would be risky but could help if he convinces jurors he lacked criminal intent.