2023-11-03 19:33:33
Par Ingrid Vergara
Published 3 hours ago, Updated 3 hours ago
Sam Bankman Fried, the ex-founder of the cryptoasset exchange platform FTX, leaving Manhattan federal court in New York, March 30, 2023. AMANDA PEROBELLI / REUTERS
Found guilty, the founder of the crypto platform FTX will receive his sentence in March 2024, the date on which his second trial will begin.
With his face closed, his hands clasped in front of him, Sam Bankman-Fried listened placidly as the verdict was read at the end of five weeks of his trial. It only took four hours of deliberation for the twelve jurors to agree and declare the ex-founder of the cryptoasset platform FTX guilty of the seven charges brought against him. Guilty of orchestrating one of the largest financial frauds in American history, leaving behind an $8 billion debt and thousands of destitute investors. Also guilty of using, without their knowledge, funds deposited by FTX clients to cover risky transactions and investments of his investment company, Alameda Research.
A multi-billionaire at 30, Sam Bankman-Fried risks spending at least the next 30 years behind bars. His fate is now in the hands of Judge Lewis Kaplan, who will pronounce his sentence on March 28, 2024. In theory, “SBF” risks up to…
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