After lower than 5 hours of deliberation, the jury discovered Sam Bankman-Fried (SBF) responsible of all seven fees levied towards him by the U.S. authorities.
SBF faces greater than 100 years in jail for his function in defrauding FTX clients out of roughly $8 billion value of their funds, primarily by giving Alameda Analysis particular privileges to borrow these funds with out restrict and spend it recklessly.
The seven fees towards him are wire fraud and conspiracy to commit wire fraud towards FTX’s clients, wire fraud and conspiracy to commit wire fraud towards Alameda Analysis’s lenders, conspiracy to commit securities fraud towards FTX’s traders, conspiracy to commit commodities fraud towards FTX clients and conspiracy to commit cash laundering.
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