Prosecution and Defense Lay Out Conflicting Narratives in Opening Statements of FTX Founder Bankman-Fried's Fraud Trial
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Prosecution says Bankman-Fried lied to customers, stole their money, and tried to cover it up when FTX collapsed.
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Defense says Bankman-Fried acted in good faith but his businesses grew too fast and failed through no fault of his own.
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Prosecution will present evidence like financial records and deleted tweets showing Bankman-Fried misused customer funds.
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Defense blames FTX executive Caroline Ellison for lack of safeguards and says government witnesses have incentives to support prosecution narrative.
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Judge instructed jury to weigh all evidence objectively, not treat opening statements as facts.