Sam Bankman-Fried convicted of defrauding FTX customers
Friday, 3 November 2023 FTX founder Sam Bankman-Fried has been found guilty of defrauding customers of his cryptocurrency exchange, resulting in one of the largest financial fraud cases ever. The verdict follows FTX's bankruptcy filing and the loss of Bankman-Fried's personal fortune. Bankman-Fried, a former billionaire, was convicted on all seven counts he faced after a monthlong trial. He is set to be sentenced in March 2024 and is also facing additional charges of foreign bribery and bank fraud conspiracies.
Sam Bankman-Fried Found Guilty , on All Fraud Counts.
The FTX founder has been convicted of
seven criminal counts of fraud, CNBC reports.
Five counts pertain to conspiracy, and
two counts are associated with wire fraud.
The maximum sentence that the
31-year-old faces is 115 years in...
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Sam Bankman-Fried's fraud trial has given an unprecedented window into how a group of graduates from elite US universities in their late 20s and early 30s tried,... IndiaTimes
Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, has been convicted of fraud by a New York jury. The jury found him guilty of stealing at least $10... IndiaTimes
Friday, 3 November 2023
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