Sam Bankman-Fried discovered responsible of fraud

Photo illustration of Sam Bankman Fried on a background of pixels and handcuffs.
Picture Illustration by Cath Virginia / The Verge

Former cryptocurrency kingpin Sam Bankman-Fried has been discovered responsible of fraud. A New York jury delivered the decision on November 2nd, concluding a trial that has seen Bankman-Fried defend himself in opposition to claims that he criminally mismanaged his crypto change FTX and buying and selling agency Alameda Analysis.

After greater than a month in trial, the jury took lower than 4 hours to determine Bankman-Fried’s destiny, declaring him responsible on all seven fees, together with wire fraud, conspiracy to commit wire fraud, and conspiracy to commit cash laundering. He’s set to be sentenced by Choose Lewis Kaplan on March 28th of subsequent yr and faces many years in jail.

Bankman-Fried began FTX in 2019, and its valuation rose stratospherically throughout a post-pandemic…

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