ABC News(NEW YORK) Jurors will soon begin deliberating in the trial of FTX founder Sam Bankman-Fried, nearly a year after the cryptocurrency trading platform s collapse, as federal prosecutors are accusing him of orchestrating one of the largest financial frauds in U.S. history.
Bankman-Fried, 31, faces seven counts of fraud, conspiracy and money laundering centered on his alleged use of customer deposits on FTX once valued at $32 billion to cover losses at his privately controlled hedge fund, Alameda Research, as well as to buy lavish real estate and make political donations.
The defense has characterized Bankman-Fried as a math geek who was naïve and didn t set out to defraud anyone, while the prosecution laid out the case that this was an elaborate and intentional fraud.
Bankman-Fried has pleaded not guilty to all counts. If convicted, he could face a sentence of up to 110 years in prison.
With closing statements slated to begin on Wednesday, here s a look back at key mom
Key moments from trial of former FTX CEO Sam Bankman-Fried
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Sam Bankman-Fried lied under oath to shape his story around ex-friends who testified against him, prosecutors say in scathing closing argument
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