Oct. 25 (UPI) — FTX founder Samuel Bankman-Fried will testify at his money laundering and fraud trial, according to his lawyer Mark Cohen.
The cryptocurrency exchange collapsed in November when it was revealed that the company had mishandled customer investments.
Bankman-Freid was arrested in the Bahamas in December and transferred to U.S. custody.
Bankman-Fried initially was held under house arrest but had his bail revoked in August when a judge determined that he had tried to intimidate a witness. Since August, he has been held at Brooklyn’s Metropolitan Detention Center.
Cohen said “our client is going to be testifying” during a court hearing Wednesday. Cohen also said he would call three additional witnesses to testify in Bankman-Fried’s defense.
The decision comes after Bankman-Fried was able to obtain assurances that he would have sufficient ADHD medication to play a role in his defense.
Prosecutors are expected to rest their case on Thursday, after taking testimony from a final prosecution witness, and Bankman-Fried is expected to begin his testimony the same day.
If convicted, Bankman-Fried could face decades in prison.
