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N.S. flood victim surprised by apartment makeover | SaltWireNEW YORK - A few years after graduating from college, Sam Bankman-Fried grew worried he was not taking enough risks.
He parlayed his wealth into political clout, becoming one of the biggest donors to Democratic candidates and causes ahead of the 2022 U.S. midterm elections. Based in the Bahamas, Bankman-Fried became known for his mop of unkempt curly hair and for wearing rumpled shorts, even when entertaining dignitaries like Bill Clinton.
His trial began on Oct. 4 in Manhattan federal court. Three former members of his inner circle, who have pleaded guilty and agreed to cooperate with prosecutors, testified against him and painted an unflattering portrait of his character, detailing instances in which he snapped angrily at colleagues and suggested his quirky persona was mostly an act.
Ellison and the other two cooperating witnesses, former FTX executives Gary Wang and Nishad Singh, have not yet been sentenced. Prosecutors may urge U.S. District Judge Lewis Kaplan to take their cooperation into account in determining their punishment. Bankman-Fried, now 31, testified that he made mistakes, such as not implementing a risk management team, that harmed FTX customers and employees. But he said he never intended to defraud anyone or steal customer money.
"If I really think that I should be trying to maximize expected values, that probably implies substantially riskier strategies than what seems intuitively right," he said in the June 4, 2020, podcast."I should be careful not to fall prey to trying to choose a comfortable path."
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