Sam Bankman-Fried convicted of defrauding FTX customers
FTX founder Sam Bankman-Fried has been found guilty of defrauding customers of his cryptocurrency exchange, resulting in one of the largest financial fraud cases ever. The verdict follows FTX's bankruptcy filing and the loss of Bankman-Fried's personal fortune. Bankman-Fried, a former billionaire, was convicted on all seven counts he faced after a monthlong trial. He is set to be sentenced in March 2024 and is also facing additional charges of foreign bribery and bank fraud conspiracies.
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