Reuters
Sam Bankman-Fried is set to go on trial on Tuesday on fraud and conspiracy charges related to the collapse of FTX, the now-bankrupt cryptocurrency exchange he founded and led. Prosecutors say Bankman-Fried embezzled customer money to plug losses at Alameda Research, a crypto hedge fund he owned, as well as to make investments, buy real estate in the Bahamas, and donate to U.S. political campaigns - sometimes through "straw" donors used to mask the true source of the funds. He faces one count of wire fraud, two counts of conspiracy to commit fraud, and one count of money laundering conspiracy over the alleged theft of customer funds.