FTX Sam Bankman-Fried Decides To Testify In His Own Defense After Being Accused Of Fraud, Money Laundering At New York Trial

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FTX Sam Bankman-Fried decided to testify in his own defense after being accused of fraud and money laundering at a New York trial.

Sam Bankman-Fried
FTX Sam Bankman-Fried decided to testify in his own defense after being accused of fraud and money laundering at a New York trial. (Photo: Reuters)

FTX Sam Bankman-Fried Will Testify in His Own Defense at New York Trial Following Fraud and Money Laundering Allegations

FTX Sam Bankman-Fried will reportedly testify in his own defense at a New York trial after being accused of fraud and money laundering following the bankruptcy of the crypto exchange company that FTX Sam Bankman-Fried founded and managed.

According to a report published in NBC News, FTX Sam Bankman-Fried had been accused of money laundering and fraud after his company was bankrupt, but FTX Sam Bankman-Fried and his team claimed that he has ADHD; however, they had difficulty getting supporting medical evidence on his claims.

After FTX Sam Bankman-Fried’s arrest, the federal prosecutors presented strong evidence against him, supporting their claims that his fraud and money laundering allegations were true, especially after his defense team failed to get evidence of FTX Sam Bankman-Fried’s ADHD claims and his medication.

READ ALSO: FTX Crypto CEO To Face Up To 115 Years In Prison After Embezzling Billions Of Funds From Customers

FTX Sam Bankman-Fried Pleads Not Guilty to Fraud and Money Laundering Allegations Following Bankruptcy

Following his company’s bankruptcy, FTX Sam Bankman-Fried pleaded not guilty to fraud and money laundering allegations and will testify in his own defense at the New York trial, which will let the federal prosecutors cross-examine him.

FTX Sam Bankman-Fried is expected to testify with three other witnesses; however, it would be hard for them to gain trust after he tried to pay previous witnesses before just to testify in his favor, AP News reported.

READ ALSO: Federal Criminal Case Unveils Allegations Of Fraud And Money Laundering Against Rep. George Santos

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