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 lasted for a month in Manhattan federal court, and the jury reached a unanimous verdict after just two days of deliberation. Bankman-Fried now faces up to 110 years in prison, with sentencing scheduled for March 2024. The conviction is notable for its swift resolution compared to other white-collar crime cases. Prosecutors presented evidence of Bankman-Fried’s deception, including messages showing he lied to investors about FTX’s financial health and used customer funds for unauthorized and risky bets through Alameda Research.

This News Article was automatically generated by Bob the Bot (AI)

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