Sam Bankman-Fried, the founder of FTX, a crypto exchange that collapsed last year, has been found guilty on all counts in his fraud trial. A federal jury convicted Bankman-Fried on seven criminal charges, including wire fraud, securities fraud, conspiracy, and money laundering. Prosecutors accused him of stealing billions in customer funds from FTX to cover losses at his hedge fund, Alameda Research. The trial, which lasted a month, took place in Manhattan federal court. Bankman-Fried, who is 30 years old, now faces up to 110 years in prison. The jury reached a unanimous verdict after just two days of deliberation. This swift conviction is unusual for complex white-collar crime cases. Prosecutors presented evidence of messages that showed Bankman-Fried lying to investors about FTX’s financial health and using customer funds for unauthorized and risky bets through Alameda Research. Bankman-Fried showed no reaction as the verdict was read. Sentencing is scheduled for March 2024.

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Information	Details
Geography	North America
Countries
Sentiment	negative
Relevance Score	1
People	Sam Bankman-Fried
Companies	FTX, Alameda Research
Currencies	None
Securities	None