FTX founder Sam Bankman-Fried set to testify in his fraud trial
Former crypto boss could take the stand as early as Thursday
O’Leary Ventures chairman and former FTX spokesman Kevin O’Leary joins ‘America’s Newsroom’ to discuss the start of former FTX CEO Sam Bankman-Fried’s fraud trial.
FTX founder Sam Bankman-Fried is expected to take the stand in his ongoing criminal trial as early as Thursday, his defense team has revealed.
Former FTX chief Sam Bankman-Fried leaves the Federal Courthouse following a bail hearing ahead of his October trial in New York City on July 26, 2023. (ANGELA WEISS/AFP via Getty Images / Getty Images)
According to a teleconference held by Judge Lewis Kaplan, who is presiding over the trial in the Manhattan federal court, the government plans to end its prosecution around 10 a.m. on Thursday.
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An attorney for Bankman-Fried said the defense will potentially call three witnesses at that time, which will collectively take roughly an hour, before calling the former crypto boss up to testify.
A courtroom sketch depicts FTX founder Sam Bankman-Fried’s fraud trial in New York on Thursday. (Jane Rosenberg / Fox News)
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Although Bankman-Fried's attorneys' plan could change, the defense team said it is possible they could wrap up their direct examinations by the end of the day on Thursday. At that point, prosecutors will have their chance to begin cross-examining the defendant, and their questioning is expected to last well into Friday.
A courtroom sketch depicts Sam Bankman-Fried’s appearance in Manhattan Federal Court in New York on Oct. 6, 2023. (Jane Rosenberg / Fox News)
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Bankman-Fried is facing seven counts of fraud and conspiracy over the collapse of his crypto empire in his ongoing trial, and faces a second criminal trial that is set for March on additional counts. He has pleaded not guilty to all charges brought against him.
FOX Business' Daniel Hillsdon contributed to this report.