Sam Bankman-Fried Fraud Trial Set to Begin

Wake Up With Cheddar

Trial against FX founder Sam Bakeman Fried is set to start today. Baman Fried has pleaded not guilty to several federal charges including securities fraud, wire fraud and money laundering. The securities and Exchange Commission alleges that Baman Fried built a house of cards on a foundation of deception regulators accuse Beekman Fried of moving customer funds from the FX Cryptocurrency Exchange to a separate hedge fund known as Alameda Research. Several of Beckman Fried's former colleagues are expected to testify against him during this trial, which could last about six weeks.