Prosecutor opens trial for FTX founder Sam Bankman-Fried saying he stole at least $10 billion

Published October 4, 2023 9:41 AM

By KEN SWEET and LARRY NEUMEISTER
Associated Press

NEW YORK (AP) — A prosecutor accused FTX founder Sam Bankman-Fried of stealing at least $10 billion from his customers for his own use as opening statements began in a federal court trial in New York City. Assistant U.S. Attorney Nathan Rehn said the 31-year-old California man defrauded thousands of investors and customers in his businesses by siphoning off their money for his own uses. Bankman-Fried was brought to the United States from the Bahamas after his arrest last December. Originally under house arrest, he was jailed in August after a judge concluded he’d tried to influence trial witnesses. He has pleaded not guilty.

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