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

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Internashonal

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


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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