Guilty on All Counts: Former FTX CEO Sam Bankman-Fried Faces Potential Century-Long Sentence

Sam Bankman-Fried, the disgraced erstwhile CEO of FTX, has been convicted connected each 7 charges, including ligament fraud, securities fraud, commodities fraud, and wealth laundering. The assemblage reached a verdict astatine astir 7:45 p.m. (ET) connected Thursday evening according to an relationship shared by Matthew Russell Lee from the Inner City Press.

Bankman-Fried Convicted connected Multiple Charges

The ex-FTX CEO has been recovered blameworthy by a assemblage of his peers, according to respective reports connected Thursday evening. The 31-year-old Bankman-Fried was charged successful December 2022, astir a period aft the speech collapsed. Bankman-Fried had a sweeping acceptable of allegations, arsenic prosecutors accused him of orchestrating an extended program to mismanage billions of dollars successful lawsuit deposits entrusted to FTX.

These charges besides implicated him successful deceiving some FTX investors and lenders, arsenic good arsenic those associated with Alameda Research. On Thursday, the newsman Matthew Russell Lee reported the courtroom relationship of the situation. “Jurors, I convey you,” the justice said. “You did what we anticipation each citizens bash erstwhile called for service. That was your call. In conscionable a infinitesimal I americium going to discharge you. You tin talk astir it.”

The justice added:

If you bash speak, beryllium delicate to the feelings of different jurors. If anyone progressive successful the lawsuit contacts you and you accidental nary and they don’t instrumentality nary for an answer, I volition instrumentality due steps if I lawfully tin bash so.

In the courtroom, during discussions, the defence and prosecutors engaged successful a lively statement regarding the scheduling of the sentencing. While the justice projected December 11, 2023, arsenic the perfect day for the sentencing, the prosecution expressed a tendency for further clip to prepare. Bankman-Fried is confronted with the daunting imaginable of spending implicit a period down bars for the convictions helium has incurred.

What bash you deliberation astir Bankman-Fried being recovered blameworthy connected each counts? Share your thoughts and opinions astir this taxable successful the comments conception below.