Prosecutor cites 'pyramid of deceit' by Sam Bankman-Fried; Defense lawyer says he's no monster

In a closing argument, a prosecutor told a New York jury to follow overwhelming evidence and the “pyramid of deceit” that FTX founder Sam Bankman-Fried constructed to conclude he’s guilty of fraud charges

In a closing argument, a prosecutor told New York jurors Wednesday to follow overwhelming evidence of FTX founder Sam Bankman-Fried 's “pyramid of deceit” to find him guilty of defrauding customers and investors of at least $10 billion while a defense lawyer said prosecutors were unfairly portraying an honest entrepreneur as a monster.

Assistant U.S. Attorney Nicolas Roos launched a day of closings in Manhattan federal court by saying Bankman-Fried was to blame for stealing billions of dollars from investors worldwide. Bankman-Fried insisted during four days of testimony that he didn't know his customers' deposits were in such danger until weeks before his companies collapsed.

“He told a story and he lied to you,” Roos told jurors a day after Bankman-Fried concluded his testimony at the monthlong trial.

The prosecutor said Bankman-Fried wanted jurors to believe that he had no idea what was happening at his companies or that there was fraud, but his testimony conflicted with descriptions by fellow executives, his “partners in crime,” and other evidence including financial documents and Bankman-Fried's public statements.

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Mark Cohen, Bankman-Fried's attorney, urged jurors to review his client's testimony to see the truth and find that he did not have the mindset to commit crimes as he tried to save his businesses. He said none of Bankman-Fried's former executives testified that he told them to steal money or commit crimes.

“Sam acted in good faith throughout,” Cohen said. “He didn't want to defraud anyone. ... He didn't intend to defraud anyone.”