The jury found the founder of the FTX crypto exchange, Sam Bankman-Fried, guilty of all charges: fraud, criminal conspiracy and theft of $8.9 billion. Bankman-Fried will be sentenced in March next year. According to his lawyers, he faces up to 115 years in prison.

Jury found FTX cryptocurrency exchange founder Bankman-Fried guilty on all charges

A jury found Sam Bankman-Fried guilty of fraud, conspiracy and theft of $8.9 billion in funds from FTX customer accounts. The founder of the bankrupt FTX crypto exchange was found guilty of all charges brought against him, The Verge writes.

The court is scheduled to sentence Bankman-Fried on March 23, 2024. According to his attorneys, he faces up to 115 years in prison.

In November 2022, FTX initiated its own bankruptcy proceedings due to financial instability. In December, the FTX founder was arrested in the Bahamas and later extradited to the United States.

In August, cryptocurrency exchange FTX submitted a relaunch plan and refused to pay FTT token holders.


Kirill Bilyk

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.


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