Sam Bankman-Fried found guilty on all seven criminal fraud counts

Sam Bankman-Fried has been found guilty on all seven criminal charges brought against him. The FTX founder now faces a potential maximum prison sentence of 115 years.

The 31-year-old, who is the child of two Stanford legal scholars and holds a degree from the Massachusetts Institute of Technology, has been convicted on multiple counts, including wire fraud and conspiracy to commit wire fraud concerning FTX customers and Alameda Research lenders.

He has also been found guilty of conspiracy to commit securities fraud and conspiracy to commit commodities fraud against FTX investors, along with a conspiracy to commit money laundering.

Bankman-Fried had previously pleaded not guilty to these charges, which were all related to the collapse of FTX and its sister hedge fund Alameda late last year, CNBC reported.

READ MORE: https://www.cnbc.com/2023/11/02/sam-bankman-fried-found-guilty-on-all-seven-criminal-fraud-counts.html

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