"Prosecutor Exposes Sam Bankman-Fried's Web of Lies in Trial"

The prosecution in the trial of Sam Bankman-Fried, the founder of cryptocurrency company FTX, has accused him of building his wealth and power on lies and committing a massive fraud. The prosecution alleges that Bankman-Fried used his company to commit fraud on a massive scale, stealing billions of dollars from FTX's customers. Opening statements have begun, and the prosecution described how Bankman-Fried allegedly used his other company, Alameda, to siphon customer money out of FTX. The trial has now moved into the jury selection phase.