Sam Bankman-Fried has been found guilty of defrauding customers of his cryptocurrency exchange out of billions of dollars.
The 31-year-old could be sentenced to more than 100 years in prison after stealing money from clients of FTX. A Manhattan jury convicted him on all seven counts after a month-long trial. FTX collapsed last November, shocking financial markets and wiping out the crypto tycoon's estimated $26bn fortune. He was arrested in the Bahamas in December and extradited to the US.
'He didn't bargain for his three loyal deputies taking that stand and telling you the truth: that he was the one with the plan, the motive and the greed to raid FTX customer deposits - billions and billions of dollars - to give himself money, power, influence,' prosecutor Danielle Sassoon told the jury. 'He thought the rules did not apply to him. He thought that he could get away with it.
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