Bankman-Fried, who founded the FTX crypto exchange, was convicted on all seven counts against him with the jury taking less than five hours to reach their verdict. The month-long trial in Manhattan federal court had heard that Bankman-Fried looted FTX customers' money out of greed and spent the money on himself.
The verdict came just short of one year after FTX filed for bankruptcy in a swift corporate meltdown that shocked financial markets and erased his estimated $26billion personal fortune.
Bankman-Fried, who had pleaded not guilty to two counts of fraud and five counts of conspiracy, stood facing the jury with his hands clasped in front of him as the verdict was read out.
"The crypto industry might be new, the players like Sam Bankman-Fried may be new, but this kind of fraud is as old as time and we have no patience for it," chief prosecutor Damian Williams told reporters outside the courthouse afterwards.
Diese Geschichte stammt aus der November 03, 2023-Ausgabe von Evening Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 03, 2023-Ausgabe von Evening Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Can turmeric put a spring in your step?
Arthritis was not only robbing Jane of the pleasure of her daily dog walks, but also of sound sleep. Until she discovered Food-Grown Organic TurmaForte Turmeric, which has now brought back joy and ease to her daily routine
I found the Ozempic for smokers. Within aweek, I'd quit
Last November, the NHS announced a miracle cure for smokers: a demo graphic I’ve identified with from the age of 14.
Taking the plunge
Dancing On Ice star Mollie Pearce opens up about training for her toughest challenge yet.
Can McCullum's Midas touch turn white-ball sides to gold?
England coach worked miracles with Test team...now he must do it again
The London MP, her despot aunt and a scandal that won't go away
Tulip Siddiq's close links to a bloodthirsty regime leave her constituents with serious concerns
Markets in turmoil, zero growth and confidence smashed
It's a depressing picture, but Reeves could turn it around - if she'd listen to London
Chelsea swagger: Why SW3 is swinging again
With a wave of red-hot openings, this formerly supercool enclave of south-west London is the place to be once more
Advanced prostate care at Sage Urology
Prostate health is crucial for men over 50, with conditions like benign prostatic hyperplasia (BPH) and early prostate cancer being common concerns.
Lake Como & Lugano: your exclusive Alpine escape at Parco San Marco
Where the majestic Alps embrace the serene waters of Lake Como and Lake Lugano, Parco San Marco Hotels & Beach Resort offers a sanctuary of luxury and natural beauty.
Could Trump be the unlikely mastermind of world peace?
The Gaza ceasefire deal is his first win for the 'peace through strength' doctrine
