Sam Bankman-Fried convicted of multi-billion dollar FTX fraud

Posted on AllSides November 3rd, 2023
From The Center

FTX founder Sam Bankman-Fried was found guilty on Thursday of stealing from customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire's fall from grace.

A 12-member jury in Manhattan federal court convicted Bankman-Fried on all seven counts he faced after a monthlong trial in which prosecutors made the case that he looted $8 billion from the exchange's users out of sheer greed.

The verdict came just shy of one year after FTX filed for bankruptcy in a swift corporate meltdown that shocked...

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https://www.reuters.com/legal/ftx-founder-sam-bankman-fried-thought-rules-did-not-apply-him-prosecutor-says-2023-11-02/

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