Sam Bankman-Fried Found Guilty on All Charges: A Stunning Verdict

Former FTX CEO Sam Bankman-Fried (SBF) has been found guilty of all seven charges against him by a New York jury on 3 November, only five weeks into his criminal trial. This marks a spectacular fall for Bankman-Fried, the former head of the cryptocurrency exchange FTX. Jurors in the criminal trial of former crypto king Sam Bankman-Fried have reached a verdict.

Bankman-Fried, 31, faces seven counts of fraud and conspiracy and could spend the rest of his life in jail if found guilty of all charges. Bankman-Fried was charged with seven counts of wire fraud, securities fraud and money laundering after his crypto exchange, FTX, and hedge fund, Alameda Research collapsed. The 31-year old son of two Stanford legal scholars and graduate of the Massachusetts Institute of Technology, was convicted of wire fraud.

The verdict seals a stunning downfall for the one-time crypto billionaire. Sam Bankman-Fried was found guilty of each of the seven criminal charges he faced. The charges included wire fraud and conspiracy relating to the collapse of FTX. The sentencing will be announced at a later date.