Bankman-Fried Fraud Trial Begins: Prosecutors Allege Deception Behind His Image of Wealth and Power

Bankman-Fried portrayed an image of wealth and power but prosecutors allege it was built through lies and a massive fraud scheme.

Prosecution alleges Bankman-Fried misused customer deposits, spending billions on himself and his companies instead of keeping it for customers.

Caroline Ellison described as a front for Bankman-Fried, who was the one calling the shots at Alameda Research.

Prosecution alleges Bankman-Fried falsely assured customers their money was safe and FTX wouldn't use it for itself.

Jury selection completed; opening statements expected this afternoon in trial where Bankman-Fried faces 7 criminal counts.