The court found ex-CEO of the FTX exchange Sam Bankman-Fried (SBF) guilty on all seven counts. The final verdict will be announced on March 28, 2024.
On November 2, 2023, the first stage of the trial in the SBF case ended. Let us remind you that you can familiarize yourself with all the details of the process in our diary:
The jury returned its verdict at 7:40 pm EST. All seven found Sam Bankman-Fried guilty.
Let us remind you that the ex-CEO of FTX was accused of fraud, financial fraud, embezzlement, criminal conspiracy and money laundering. US Attorney for the Southern District of New York Damian Williams commented on the case:
"Bankman-Fried committed one of the largest financial frauds in US history."
The next meeting is scheduled for March 11, 2024. Presumably the court will make a final verdict on March 28.
Haun Ventures founder Catherine Haun estimates that the maximum sentence Bankman-Fried faces is 110 years in prison. Previously, another figure appeared in expert judgments - from 10 to 20 years.
The lawyer of the ex-CEO of FTX, Mark Cohen, noted that he was disappointed with the outcome of the case. However, he respects the jury's decision. The lawyer did not answer the press question about a possible appeal in the future.
“Bankman-Fried maintains his innocence. “He will continue to fight the charges against him,” he emphasized.
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