Sam Bankman-Fried Found Guilty on All Counts in FTX Fraud Trial
-
Sam Bankman-Fried found guilty on all counts of fraud and money laundering charges related to the collapse of his cryptocurrency exchange FTX.
-
Jury reached unanimous verdict after only 4 hours of deliberation following a month-long trial.
-
Prosecutors accused Bankman-Fried of stealing billions from FTX customers to pay debts of his crypto trading firm Alameda Research.
-
Defense argued Bankman-Fried acted in good faith but made mistakes in managing the firms as they grew rapidly.
-
Sentencing set for March 2024, Bankman-Fried faces decades in prison. Lawyers say he plans to appeal.
