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Sam Bankman-Fried found guilty on all 7 counts

After less than five hours of deliberations, the jury found Sam Bankman-Fried (SBF) guilty of all seven charges brought against him by the U.S. government.

SBF faces more than 100 years in prison for its role in defrauding FTX clients out of approximately $8 billion of their funds, primarily by granting Alameda Research special privileges to borrow those funds without limits and spend them recklessly.

The seven charges against him are wire fraud and conspiracy to commit wire fraud against FTX customers, wire fraud and conspiracy to commit wire fraud against Alameda Research lenders, conspiracy to to commit securities fraud against FTX investors, the conspiracy to commit commodities fraud against FTX customers, and the conspiracy. commit money laundering.

Presiding Judge Lewis Kaplan set the sentencing date for March 28, while the second SBF trial was scheduled for March 15, barring any unforeseen delays.

The post-trial motion schedule will be made public on December 11.

The post Sam Bankman-Fried Found Guilty on All 7 Counts appeared first on CryptoSlate.

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