Sam Bankman-Fried built empire on ‘lies’, prosecutor says in fraud trial

Second day of trial featured prosecutors' first witness as defense presented Bankman-Fried as math nerd' with good intentions who got in over his head

Opening arguments began in Sam Bankman-Fried's fraud trial on Wednesday, with prosecutors accusing the former cryptocurrency star of building his empire on lies" and living a lavish lifestyle while defrauding his customers. Defense attorneys countered by presenting Bankman-Fried as a math nerd" with good intentions who got in over his head.

The second day of the trial began with Judge Lewis Kaplan finalizing a group of 12 jurors who would hear the case, along with six alternates, and later in the afternoon featured prosecutors calling their first witness.