FTX co-founder testifies against Sam Bankman-Fried, saying they committed crimes and lied to public

Published October 5, 2023 4:03 PM

By LARRY NEUMEISTER
Associated Press

NEW YORK (AP) — FTX’s co-founder has begun to tell a New York jury that he and Sam Bankman-Fried committed financial crimes and lied to the public before the cryptocurrency trading platform collapsed last year. Gary Wang started testifying in Manhattan federal court late Thursday, the first of three former top executives expected to boost the prosecution’s fraud case against the 31-year-old Bankman-Fried. Wang has pleaded guilty to charges and hopes to win leniency at sentencing in return for his cooperation. Bankman-Fried has pleaded not guilty to seven fraud and conspiracy charges in a trial that began Tuesday. His lawyers say he had no criminal intent.

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