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FTX Founder Sam Bankman-Fried Defends Against Charges of Stealing Customer Money in Court Trial

At his fraud trial, Sam Bankman-Fried's lawyer argued that he did not steal customer money from FTX but rather overlooked risk management while building the business. The defense acknowledged that FTX lent money to Bankman-Fried's hedge fund, Alameda Research, but argued that he believed the loans were permitted and backed up by collateral.

Bankman-Fried is accused of taking more than $10 billion from unsuspecting FTX customers and directing them to deposit their money to accounts controlled by Alameda. The trial involves potential testimony from Bankman-Fried's former romantic partner and other individuals, including his brother and former Trump staffer Anthony Scaramucci.

Sam Bankman-Fried FTX
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