https://www.npr.org/2023/10/04/ [login to see] /sbf-trial-sam-bankman-fried-lawyers-opening-statements
The trial of disgraced crypto mogul Sam Bankman-Fried kicked off in earnest Wednesday with lawyers from both sides delivering their opening statements.
"He had wealth. He had power. He had influence," said Thane Rehn, an assistant U.S. attorney for the Southern District of New York. "But all of that — all of that — was built on lies."
Rehn charted the rise and equally dramatic fall of Bankman-Fried's crypto empire, which include the cryptocurrency exchange FTX and a crypto-focused hedge fund, called Alameda Research.
"A year ago, it looked like Sam Bankman-Fried was sitting on top of the world," Rehn said, nodding to Bankman-Fried's lavish lifestyle.