SBF Denies Fraud But Admits Mistakes in FTX Management as Prosecution Portrays Him as Criminal Mastermind
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Sam Bankman-Fried took the stand and denied committing fraud or taking customer funds. He admitted to making mistakes in FTX's management.
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Prosecutors have portrayed SBF as a criminal mastermind who squandered $10 billion of customer funds. His lawyers say he's a "math nerd" who lacked business experience.
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Caroline Ellison, former Alameda CEO, testified SBF directed her to commit crimes and took $10 billion from FTX to prop up Alameda.
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Ellison's testimony contradicts what SBF may say on the stand about siphoning funds and directing illegal activity.
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SBF pleaded not guilty to wire fraud, money laundering, and conspiracy charges related to FTX's collapse. His testimony will allow jurors to decide which version of events to believe.
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