Disgraced crypto star Sam Bankman-Fried is staring down a lengthy prison sentence after being convicted of fraud in the collapse of FTX, and he faces long odds of making any inroads on appeal.
A federal jury in New York wasted little time Thursday in convicting the 31-year-old FTX founder of all seven counts he faced, a verdict issued just hours after deliberations began. The conviction, after a monthlong trial, capped the stunning downfall of the former billionaire. Venture capital and unfettered enthusiasm in the crypto markets helped fuel his swift ascent. Jurors agreed with prosecutors that theft and lies by Bankman-Fried fueled FTX’s demise.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8