(AmericanProsperity.com) – FTX former CEO and co-founder Sam Bankman-Fried evaded tough questions by prosecutor Danielle Sassoon during his federal fraud trial on October 26. The disgraced crypto mogul resorted to different evasive maneuvers and explained that many of his friends have been lying to the media about his real role in the crypto company.
The 31-year-old entrepreneur is on trial for reportedly embezzling $8 billion in FTX user funds. As reported by the New York Post, Bankman-Fried has repeatedly claimed his trading firm Alameda Research gave him permission to borrow this money. The media outlet also pointed out that Judge Lewis Kaplan was upset with his evasions, and asked him at one moment to “listen to the question” and provide a straight answer.
According to different reports, the former crypto tycoon tried to dodge the judge’s questions, which prompted judicial intervention on numerous occasions. Throughout the hearing, Bankman-Fried seemed nervous and distressed, with frequent winces and downward glances. His responses were riddled with statements such as “I can’t remember” or “I don’t know,” which he repeated on numerous occasions during the federal fraud trial.
When responding to a question about whether his trading firm’s FTX account received any special permission to amass a substantial negative balance, he trailed off. After a brief pause, Bankman-Fried apologized and said he would do his best to answer this question. However, the New York Post reported he didn’t provide a clear response.
When asked about different conversations he had about his trading firm’s $13 billion debt before FTX’s collapse in November 2022, the former crypto tycoon frequently claimed he couldn’t remember.
The disgraced crypto mogul is currently facing charges of wire and conspiracy fraud. He has also been accused of using more than $8 billion in stolen FTX user deposits to finance debt repayments, political donations, and even some real estate acquisitions. He has pleaded not guilty.
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