Sam Bankman-Fried Found Guilty , on All Fraud Counts.
The FTX founder has been convicted of
seven criminal counts of fraud, CNBC reports.
Five counts pertain to conspiracy, and
two counts are associated with wire fraud.
The maximum sentence that the
31-year-old faces is 115 years in prison.
Damian Williams, U.S. attorney for the
Southern District of New York, issued a
statement after Bankman-Fried was found guilty.
Damian Williams, U.S. attorney for the
Southern District of New York, issued a
statement after Bankman-Fried was found guilty.
Sam Bankman-Fried perpetrated
one of the biggest financial
frauds in American history, Damian Williams, U.S. attorney for the
Southern District of New York, via statement.
This case should send a clear message
to anyone who tries to hide their crimes
behind a shiny new thing they claim no one
else is smart enough to understand: the
Justice Department will hold you accountable, Damian Williams, U.S. attorney for the
Southern District of New York, via statement.
Mark Cohen, Bankman-Fried's attorney, said that
his client “maintains his innocence and will continue
to vigorously fight the charges against him.”.
His legal team will likely
appeal the verdict, Fox News reports. .
A sentencing hearing has been set for March 28