Sam Bankman-Fried, the former head of the cryptocurrency exchange FTX, has been found guilty in seven criminal cases. These criminal acts include wire fraud, securities fraud, and money laundering.
Sam Bankman-Fried: Guilty on All Charges
Now, as he has been found guilty, there is a high chance that he could go to jail for decades. During his trial, prosecutors said Sam bank man Fried was involved in a significant financial fraud. He has used the public funds, which were in FTX, and has moved a lot of money from FTX to his other company. Further, it has been said that he has used customer’s money to make political donations, buy fancy properties, and in risky investments.
Sam has been found guilty but still wants to challenge these charges in court. The judge will decide his punishment later this month.