Sam Bankman-Fried stole at least $10 billion, prosecutors say in fraud trial

Sam Bankman-Fried on Wednesday faced jurors for the first time as opening arguments in his trial on federal fraud and money-laundering charges got underway in Manhattan.

Bankman-Fried committed "a massive fraud," swiping at least $10 billion from customers and investors to finance outside ventures such as political donations and purchases of luxury real estate, Assistant U.S. Attorney Nathan Rehn declared in his opening statement. 

The co-founder of failed cryptocurrency exchange FTX, Bankman-Fried has maintained his innocence since his arrest late last year. The 31-year-old faces a potential prison term of more than a century if convicted of the charges against him.