A verdict from twelve jurors found SBF guilty of defrauding FTX customers out of $10 billion with his crypto empire.
Sam Bankman-Fried is guilty on all seven federal charges in his criminal trial for defrauding customers of his crypto exchange out of billions of dollars with his crypto empire, jurors decided on Thursday night in a Southern District of New York court, according to CoinDesk. Jurors reached a verdict at 7:40 PM that the founder of the cryptocurrency exchange FTX and Alameda Research was guilty, and Bankman-Fried could face decades in prison.
Those details came to light under forensic accountant Dave Easton’s testimony for the prosecution. Former Alameda Research CEO Caroline Ellison testified for the prosecution, saying SBF directed her to commit certain crimes. Ellison revealed that at one point, FTX considered raising funding from Mohammed Bin Salman, a Saudi Prince notorious for once detaining his own mother. SBF also asked Ellison to create alternate presentations of Alameda’s finances when the company was in massive debt.
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