Former FTX executives testify against founder Sam Bankman-Fried in ongoing fraud trial
- Sam Bankman-Fried is standing trial on charges of fraud, money laundering, and campaign finance violations related to the collapse of his cryptocurrency company FTX.
- Prosecutors allege that Bankman-Fried stole billions of dollars from FTX customers to pay debts from his hedge fund Alameda Research.
- Former executives Caroline Ellison and Gary Wang have testified that Bankman-Fried directed them to commit financial crimes.
- Recordings and documents presented as evidence reveal that Alameda borrowed extensively from FTX customer funds.
- Bankman-Fried's defense claims he made mistakes but did not intentionally commit fraud.
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