Sam Bankman-Fried could take the stand at his fraud trial as soon as Thursday, when prosecutors are set to finish presenting their case accusing the founder of now-bankrupt cryptocurrency exchange FTX of stealing billions of dollars from customers.
, a risky move that will give prosecutors the chance to cross-examine the 31-year-old former billionaire about testimony from former close colleagues that he directed them to commit crimes.by bucking conventional wisdom and testifying, given weeks of testimony against him by insiders painting an unflattering portrait of his character.
Prosecutors say Bankman-Fried used the misappropriated funds to prop up his crypto-focused hedge fund, Alameda Research, make speculative venture investments, andto U.S. political campaigns. They say Alameda looted FTX funds through special trading privileges on the exchange. Cohen in a Wednesday evening court filing told the U.S. district judge he wanted to ask Bankman-Fried about lawyers' involvement in structuring loans from Alameda to FTX executives, which prosecutors say was a key way the defendant and others took funds from unwitting customers.
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