Sam Bankman-Fried Found Guilty on All Seven Criminal Fraud Counts

MacKenzie Sigalos, reporting for CNBC:

A jury has found Sam Bankman-Fried guilty of all seven criminal counts against him. The FTX founder faces a maximum sentence of 115 years in prison.

Bankman-Fried, the 31-year old son of two Stanford legal scholars and graduate of Massachusetts Institute of Technology, was convicted of wire fraud and conspiracy to commit wire fraud against FTX customers and against Alameda Research lenders, conspiracy to commit securities fraud and conspiracy to commit commodities fraud against FTX investors, and conspiracy to commit money laundering.

Given how obvious, blatant, and large-scale his acts of fraud were, it would have been rather shocking if he hadn’t been found guilty.

Thursday, 2 November 2023