SBF was convicted on all 7 charges and may face a maximum of 115 years in prison

2023-11-03 08:12:43

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ChainCatcher News, a U.S. jury has found FTX founder SBF guilty of all seven charges brought against him by the U.S. government. The seven charges include wire fraud and conspiracy to commit wire fraud against FTX customers, wire fraud and conspiracy to commit wire fraud against lenders of Alameda Research, conspiracy to commit securities fraud against FTX investors, conspiracy to commit commodity fraud against FTX customers, and conspiracy to engage in money laundering.

SBF faces a maximum sentence of 115 years in prison for defrauding FTX customers of approximately $8 billion. Additionally, in a trial currently scheduled for March 2024, SBF still faces five additional charges, including fraud against FTX customers in derivatives trading, securities fraud against FTX investors, and three conspiracy charges: bank fraud, operating an unlicensed money transfer business, and violating bribery regulations under the Foreign Corrupt Practices Act.

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Latest developments in the SBF trial are being continuously tracked.

After being detained for 9 months and 20 days, FTX founder Sam Bankman-Fried officially appeared in court on October 3, and witnesses began to testify, attempting to uncover the various mysteries behind FTX and SBF...

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