FTX: 'King of Crypto' to testify in fraud case (www.bbc.co.uk)
from bernieecclestoned@sh.itjust.works to technology@lemmy.world on 25 Oct 2023 16:26
https://sh.itjust.works/post/7883947

#technology

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autotldr@lemmings.world on 25 Oct 2023 16:30 next collapse

This is the best summary I could come up with:


“If the jury does not believe him, it’s a guaranteed conviction,” Jacob Frenkel, a former federal prosecutor who has been following the trial told the BBC earlier this month.

Many analysts following this case, however, had expected the former entrepreneur to take the stand to try to offer his own version of events and undermine the story presented by prosecutors.

They have tied Mr Bankman-Fried to decisions to take money deposited at FTX and use it to repay lenders at his crypto trading firm, Alameda Research.

The former entrepreneur, who has been willing to speak publicly in the past, seems to have little to lose by testifying given the strength of the prosecutors’ case so far, said Carl Tobias, a law professor at the University of Richmond.

The founder of blood-testing start-up Theranos, who argued that she did not intend to defraud investors, was ultimately convicted of four out of 11 counts and sentenced to more than 11 years in prison.

Tom Barrack, a former private equity executive and fundraiser for former President Donald Trump, and Lebanese businessman Jean Boustani, both took to the stand in separate, unrelated criminal cases and were acquitted.


The original article contains 428 words, the summary contains 193 words. Saved 55%. I’m a bot and I’m open source!

slurpeesoforion@startrek.website on 25 Oct 2023 16:46 next collapse

He thinks he’s going to talk his way out of it. How cute.

cheese_greater@lemmy.world on 25 Oct 2023 17:01 next collapse

How “great” would that be if he actually Mind[ed]TheGap[ped]-ed these “TrumpedUp” charges /s

If he manages that I promise to eat my shat!

SMillerNL@lemmy.world on 25 Oct 2023 17:05 collapse

You won’t talk your way out of that one

cheese_greater@lemmy.world on 25 Oct 2023 17:36 collapse

I mean what is guilt if not the absence of innocence?

gnate@lemmy.world on 25 Oct 2023 19:40 next collapse

I support this strategy.

Voroxpete@sh.itjust.works on 25 Oct 2023 19:52 collapse

He’s already tried to tweet his way out of it, blog his way out of it, witness tamper his way out of it, and talk to the press his way out of it.

I guarantee he’s been begging to take the stand since the moment he first sat down with his lawyers.

This is what a life devoid of consequences does to a motherfucker.

deegeese@sopuli.xyz on 25 Oct 2023 16:49 next collapse

Dis gon’ be good!

scarabic@lemmy.world on 27 Oct 2023 05:57 collapse

He used to wear an insane fro and slovenly clothes so people would think he was a genius. Now he wears suits hoping people will think he’s not a criminal.