FTX founder Sam Bankman-Fried goes on trial accused of ‘massive fraud’

FTX founder Sam Bankman-Fried has gone on trial (Mary Altaffer/AP)

A US prosecutor has told jurors that FTX founder Sam Bankman-Fried was on top of the world a year ago before his historic fraud was exposed, leaving customers and investors without at least 10 billion dollars (£8.23bn) they thought was secure.

Assistant US attorney Nathan Rehn repeatedly pointed at Bankman-Fried, sitting with his lawyers in a suit, and accused him of “committing a massive fraud”.