SAM BANKMAN-FRIED GUILTY │ THE REVERSE ROBIN HOOD

FTX founder and former CEO Sam Bankman-Fried FACING 115YRS testified on Thursday without the jury present at his federal fraud trial that the lawyers for his bankrupt cryptocurrency exchange were involved in key decisions as he sought to distance himself from wrongdoing in the case.

Bankman-Fried said lawyers were involved with crafting the company’s document retention policy – which involved auto-deleting messages in some cases – as well as the system in which FTX customers deposited funds into an account linked to its affiliated hedge fund Alameda and crafting loans he and other executives took from Alameda.

When prosecutor Danielle Sassoon cross-examined Bankman-Fried, he appeared more uncomfortable than when he was questioned by his defense team and often talked in circles while responding – drawing an admonishment from Judge Lewis Kaplan who is presiding over the trial in Manhattan federal court.

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