Sam Bankman-Fried convicted of multi-billion dollar FTX fraud

www.reuters.com

cross-posted to:
globalnews@lemmy.zip

Sam Bankman-Fried convicted of multi-billion dollar FTX fraud

www.reuters.com

BountifulEggnog [they/them]@hexbear.net to

news@hexbear.netEnglish · 11 months ago

cross-posted to:
globalnews@lemmy.zip

FTX founder Sam Bankman-Fried was found guilty on Thursday of stealing from customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire's fall from grace.

Almost exactly a year after they halted withdraws, it looks like the FTX saga is coming to a close. Sentencing won’t be until March though.

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