A jury of nine women and three men found FTX founder Sam Bankman-Fried guilty of seven fraud and conspiracy charges on Thursday, reaching a unanimous decision in the former crypto mogul’s high-profile criminal case. Bankman-Fried faces a maximum sentence of 115 years in prison. Prosecutors argued that he stole billions of dollars of customer funds from FTX through his trading firm Alameda Research, while lying to Alameda’s lenders and FTX’s investors and customers. Key members of Bankman-Fried’s inner circle also testified against him during the trial, with FTX co-founder Gary Wang, former Alameda CEO Caroline Ellison, and FTX’s former head of engineering Nishad Singh all saying they committed crimes at Bankman-Fried’s behest. At the trial, Bankman-Fried sought to shift blame for FTX’s collapse away from himself, but said he could not recall details about his time at the helm of FTX at least 140 times during the government’s cross-examination. During closing arguments on Wednesday, Assistant U.S. Attorney Nicolas Roos said the case was “about deception, it’s about lies, it’s about stealing, it’s about greed.” #SamBankmanFried #FTX #CryptoMogul #CryptocurrencyFraud
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