Sam Bankman-Fried Says FTX Actions Were Guided by Lawyers

FTX founder Sam Bankman-Fried offered a potential defense strategy on Thursday by informing a federal judge that he had relied on legal guidance when making business decisions, including actions like deleting communications and extending loans to himself.

These actions, as per prosecutors, were seen as contributing to the crimes that resulted in the collapse of his cryptocurrency exchange.

Facing charges of fraud, money laundering, and other offenses, Bankman-Fried had been anticipated to testify before a Manhattan federal jury on Thursday afternoon, the Wall Street Journal reported.

READ MORE: https://www.wsj.com/finance/currencies/sam-bankman-fried-says-ftx-actions-were-guided-by-lawyers-6f42632b

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