FTX Founder Found Guilty on All Counts
Release Date:
FTX founder and CEO Sam-Bankman Fried was convicted of looting $8 billion of customer assets from his now-bankrupt cryptocurrency firm. A 12-man jury found him guilty of two counts of fraud, and five counts of conspiracy. Bankman-Fried’s sentencing has been set for March 28, 2024, and he faces decades in prison. He will also face another trial next year as prosecutors charge him with foreign bribery and bank fraud conspiracies. The sentencing comes almost exactly a year after Bankman-Fried’s firm crashed on November 11, 2023.
FTX Founder Found Guilty on All Counts