November 4, 2023
Former FTX CEO Was Found Guilty Of Fraud—Here are 4 Things You Should Know
- FTX founder and former CEO Sam Bankman-Fried was found guilty by a jury on seven counts including fraud and money laundering.
- Five of those counts carry a maximum of 20 years of prison sentence each, while two others could earn him maximum jail time of 5 years.
- Bankman-Fried’s sentencing will take place in March next year, he also faces a separate trial on charges of foreign bribery.
- Misuse of FTX customer money funded trading, lavish personal purchases and substantial…