(Bloomberg) — FTX co-founder Gary Wang said he and Sam Bankman-Fried committed a multibillion-dollar fraud with customer funds that led to the cryptocurrency exchange’s collapse, shortly after taking the stand against his onetime math camp buddy and MIT roommate.
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Dressed in a gray suit and red tie, Wang didn’t make eye contact with Bankman-Fried as he entered the Manhattan courtroom Thursday afternoon to testify as a government witness. At one point, Assistant US Attorney Nicolas Roos asked Wang, 30, to identify his former colleague. Wang craned his neck, looking around the courtroom before pointing towards Bankman-Fried, who was seated between his lawyers.
Prosecutors claim Bankman-Fried orchestrated a scheme in which billions of dollars in FTX customer funds were secretly transferred to affiliated hedge fund Alameda Research.
The testimony by Wang, who…
