FTX's Sam Bankman-Fried Found Guilty of All 7 Counts of Criminal Charges

<p dir="ltr">After a five-week trial, a New York jury found FTX's Founder and former CEO, Sam Bankman-Fried, guilty of all seven counts of fraud, conspiracy, and money laundering. The sentencing for this crime is yet to be scheduled, tentatively set for March 28, 2024.</p><p dir="ltr">"The verdict unanimous, your honor," noted a message from the 12-member jury as they reached the guilty verdict.</p><p dir="ltr">Guilty of Seven Counts of Charges</p><p dir="ltr">Once hailed as a 'messiah' in the crypto industry, <a href="https://www.financemagnates.com/cryptocurrency/sam-bankman-fried-concludes-testimony-can-he-avoid-prison/">Bankman-Fried has been found guilty</a> of two counts of wire fraud, two counts of conspiracy to commit wire fraud, and one count of conspiracy to commit money laundering. Each of these offenses carries a maximum sentence of 20 years. He was also convicted of one count of conspiracy to commit commodities fraud and one count of conspiracy to commit securities fraud, each with a maximum sentence of five years. </p><p dir="ltr">In total, he could potentially face a maximum prison time of 115 years.</p><blockquote><p lang="en" dir="ltr">The courtroom sketch artist in the Sam Bankman Fried trial might be the most generous person alive <a href="https://t.co/8l7Nn0zCN2">pic.twitter.com/8l7Nn0zCN2</a></p>— Tom Breen (@TJBreen) <a href="https://twitter.com/TJBreen/status/1719130298753937599?ref_src=twsrc%5Etfw">October 30, 2023</a></blockquote><p dir="ltr">"Sam Bankman-Fried <a href="https://www.financemagnates.com/cryptocurrency/sam-bankman-fried-speaks-out-admits-mistakes-as-ftxs-ceo/">perpetrated one of the biggest financial frauds</a> in American history," said US Attorney Damian Williams outside the court after the American jury revealed the guilty verdict. "This kind of fraud, this kind of corruption, is as old as time. We have no patience for it."</p><blockquote><p lang="en" dir="ltr">JUST IN: