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FTX Bankruptcy Update (11/02): SBF convicted on all seven charges


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The trial has been going on for a little while now, and while I've been following it a bit, it's been a bit anti-climactic in that the fraud seems pretty clear and the defense isn't doing a great job. Basically everyone around SBF has already plead guilty to fraud and is testifying against him, and I don't think I've seen a single update that bodes well for him.

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He's been convicted on all seven charges:

 

WWW.THEVERGE.COM

He could face decades in prison.

 

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Former cryptocurrency kingpin Sam Bankman-Fried has been found guilty of fraud. A New York jury delivered the verdict on November 2nd, concluding a trial that has seen Bankman-Fried defend himself against claims that he criminally mismanaged his crypto exchange FTX and trading firm Alameda Research.

 

After more than a month in trial, the jury took less than four hours to decide Bankman-Fried’s fate, declaring him guilty on all seven charges, including wire fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering. He is set to be sentenced by Judge Lewis Kaplan on March 28th of next year and faces decades in prison.

 

 

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  • Commissar SFLUFAN changed the title to FTX Bankruptcy Update (11/02): SBF convicted on all seven charges
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