The founder of FTX was convicted of all seven charges of wire fraud and conspiracy to launder money in the collapse of his crypto exchange
Sam Bankman-Fried, the founder of now-bankrupt crypto exchange FTX, was found guilty on all counts of defrauding his customers on Thursday in Manhattan federal court.
The one-time mogul was found guilty on all seven counts of wire fraud and conspiracy to launder money. He faces decades in prison at a sentencing hearing at a later date. The verdict, reached after just four hours of jury deliberation, brought an end to weeks of court proceedings that featured stunning testimony from his closest allies and the disgraced entrepreneur himself. He maintained his innocence until the end.
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