Duration : 00:49:44
Sam Bankman-Freed is facing a 115-year prison sentence for fraud. The prosecution argues that Bankman-Freed created an intricate fraud scheme using two companies, FTX and Alam Research. They claim that Alam Research, which was controlled by Bankman-Freed, stole money from FTX. The defense, however, argues that Bankman-Freed did not intend to defraud anyone and believed that FTX loans to Alam were permitted. They argue that blame should be placed on the CEO of Alam Research, Caroline Ellison. The trial is ongoing, with witnesses testifying against Bankman-Freed. One customer, Mark Anthony Juliard, claimed to have lost $100,000 because Bankman-Freed lied about the financial stability of FTX. The defense questioned Juliard about his awareness of the risks associated with cryptocurrency investments.