Former FTX CEO Sam Bankman-Fried has been declared guilty on all seven charges in his trial in New York. The jury’s verdict came after a mere four hours of deliberation, finding Bankman-Fried guilty of counts including wire fraud, securities fraud, and money laundering conspiracy.

Judge Lewis Kaplan of the New York District is set to announce Bankman-Fried’s sentence on March 28, 2024. Although specific sentencing recommendations will be submitted by government prosecutors, the counts with which Bankman-Fried has been charged can entail imprisonment between 5 and 20 years.

Throughout the trial, Bankman-Fried testified in his own defense. He claimed innocence while attributing the fall of FTX to “huge mistakes” made by others. Key among these were Gary Wang, co-founder of FTX, and Caroline Ellison, former Alameda CEO, both of whom had previously pleaded guilty to various charges and testified against Bankman-Fried.

Despite this conviction, Bankman-Fried faces an additional indictment from the Department of Justice relating to campaign finance, wherein he is alleged to have utilized stolen funds for political contributions. This charge was not part of the recent trial.

The conviction concludes nearly a year since FTX’s substantial collapse. The

Go to Source to See Full Article
Author: Vince Dioquino

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details