Here’s all you need to know on Sam Bankman-Fried’s guilty verdict
In one of the most incredible falls from grace recently, Sam Bankman-Fried, known as the “King of Crypto,” received a guilty verdict on the accounts of fraud and money laundering on November 3 in New York. The trial, which has seen a former billionaire found guilty , has lasted a little over four weeks, with the jury only needing less than five hours to deliver its final guilty verdict in this infamous case, with sentencing set to be delivered on March 28 next year. Bankman-Fried has been found guilty of stealing over $8 billion in customer funds when his cryptocurrency exchange fund declared bankruptcy in November last year. At one point, FTX was valued at over $32 billion, making him a billionaire who now faces potential decades in jail. “Sam Bankman-Fried perpetrated one of the biggest financial frauds in American history – a multibillion-dollar scheme designed to make him the king of crypto,” US attorney Damian Williams said in a statement after the verdict...