Instead, he has argued from the get-go he was in over his head, and that some of his trusted lieutenants - several of whom testified against him - failed to do their jobs properly. The government has charged Bankman-Fried with seven criminal counts, including fraud, and if he is convicted, he could spend the rest of his life in prison.īut Bankman-Fried's decision to testify was also not a huge surprise, given how frequently he has tried to defend himself in the court of public opinion - in interviews and social media posts.īankman-Fried has pleaded not guilty, and he has maintained he didn't intend to defraud FTX customers and commit crimes. It's a big bet even for a former Wall Street trader who has a reputation for embracing risk. Now, he will make that case directly to jurors in his criminal trial in a high-stakes gamble to avoid prison time. Ever since Sam Bankman-Fried's crypto empire collapsed, he has claimed he did nothing wrong.