Crypto

Sam Bankman-Fried convicted of fraud in stunning FTX Crash

Bankman-Fried was found guilty of seven counts of fraud and conspiracy

  • November 3, 2023
Sam Bankman-Fried faces up to 20 years in prison on each of the most serious charges. Picture: Michael M. Santiago/Getty Images

Sam Bankman-Fried has been convicted of a massive fraud that led to the collapse of his FTX exchange, following a month-long trial that pitted the testimony of the former crypto king against that of some of his closest friends.

Bankman-Fried was found guilty of seven counts of fraud and conspiracy after jurors in Manhattan deliberated for less than five hours Thursday. He faces as much as 20 years in prison on each of the most ...