BTC-Newswire

Breaking: FTX founder Sam Bankman-Fried found guilty of all 7 counts

Press Releases Crypto News AMB-Crypto Breaking: FTX founder Sam Bankman-Fried found guilty of all 7 counts

The 12-member jury has found the FTX founder – SBF guilty of seven counts of fraud and money laundering charges
The court will now move on to the second trial and the sentencing of the former crypto mogul, which is set to take place in Q1 2024

The verdict on the FTX Founder Sam Bankman-Fried’s case is finally here. The 12-member jury has deemed SBF guilty of all seven counts of fraud and money laundering charges placed against him by the US Department of Justice. The ruling has finally brought an end to the nearly four week’s trial, which saw the top FTX executives testifying against Bankman-Fried.

SBF’s lawyer Mark Cohen: We would like the jury polled.
[Verdict is confirmed]
Judge Kaplan: Jurors, I thank you. You did what we hope all citizens do when called for service. That was your call. In just a minute I am going to discharge you. You can speak about it

— Inner City Press (@innercitypress) November 2, 2023

The court would next decide on the sentencing for the crimes SBF has been found guilty of. Additionally, there will also be a second trial for the additional charges placed against him. These charges are related to alleged foreign bribery and conspiracy to commit bank fraud.

Judge Kaplan: We have scheduled a second trial for March 11 [2024]. Let me know by February 1 if that is going to proceed. I want an update on that. What is the government’s position on setting a sentencing date on this?
AUSA Roos: Let’s get the PSR process going

— Inner City Press (@innercitypress) November 2, 2023

Notably, the current charges SBF has been found guilty of carries a maximin sentence for the crimes being 115 years in prison. The judge has set the sentencing date for March 28. 2024.