Former FTX CEO Sam Bankman-Fried Found Guilty
Adekunle Joshua
Former FTX CEO Sam Bankman-Fried has been found guilty of all seven charges in a New York court.
These seven charges include wire fraud, securities fraud, and money laundering conspiracy, among others.
These crimes carry a maximum imprisonment of 5 to 20 years, with some charges carrying up to 20 years.
U.S. Attorney Damian Williams describes this case as a "multibillion-dollar scheme" designed to make Bankman-Fried "the king of crypto."
Alameda CEO Caroline Ellison and co-founder Gary Wang have also pleaded guilty and testified against Bankman-Fried.
Despite all this, during the trial, Bankman-Fried maintained his innocence and defended his actions.