New York – Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was found guilty on all counts in his fraud trial related to FTX’s spectacular collapse.
After 15 days of intense trial and only 4.5 hours of jury deliberation, Bankman-Fried was convicted on 7 counts of conspiracy and fraud. The charges carry a maximum sentence of up to 110 years in prison.
Keypoints
- Sam Bankman-Fried was found guilty on all 7 counts of fraud and conspiracy related to the collapse of his cryptocurrency exchange FTX.
- The charges include wire fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering. He faces up to 110 years in prison.
- Prosecutors argued that FTX was a fraud “from the start” and Bankman-Fried misappropriated billions in customer funds.
- Defense claimed Bankman-Fried failed honestly at a high-risk business but did not commit fraud.
- Multiple former FTX executives like…
