
Sam Bankman-Fried told the world that he built his cryptocurrency empire at FTX, telling only his friends and girlfriend the truth about what was happening.
Nathan Rehn, an assistant US attorney, painted a picture of the 31-year-old as a calculated criminal who used investor deposits at FTX to manage his personal bank account before the company collapsed in bankruptcy a year ago. He said only Bankman-Fried's inner circle knew that he was taking customer money to fund his lifestyle.
Prosecutors included references to former Alameda Research co-chief executive officer Caroline Ellison in their opening statements, as one of the individuals that knew what was going on behind the scenes. Ellison, Bankman-Fried's former girlfriend, is the government's star witness, after reaching a cooperation deal last year. In a statement, the US on Wednesday notified Sam Bankman-Fried that it is going after two luxury jets that prosecutors claim are the proceeds of the multi-billion-dollar fraud.