A jury of nine women and three men found FTX founder Sam Bankman-Fried guilty of seven fraud and conspiracy charges on Thursday, reaching a unanimous decision in the former crypto mogul’s high-profile criminal case.

Although the jury delivered its verdict today, it could be some time before U.S. District Judge Lewis Kaplan determines Bankman-Fried’s sentence. He faces a maximum sentence of 115 years in prison.

“We respect the jury’s decision. But we are very disappointed with the result,” Bankman-Fried’s defense attorney Mark Cohen said in a statement. “Mr. Bankman Fried maintains his innocence and will continue to vigorously fight the charges against him.”

Throughout Bankman-Fried’s trial in the Southern District of New York, he and his defense team sought to dissuade the jury of accusations that the one-time CEO orchestrated a sweeping scheme to commit fraud and misappropriate $10 billion worth of customers’ funds.

Prosecutors said he stole billions of dollars of customer funds from FTX through his trading firm Alameda Research. At the same time, Bankman-Fried stood accused of lying to Alameda’s lenders and FTX’s investors and customers. A jury was convinced.

Their decision comes nearly a year after FTX’

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Author: André Beganski

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