yesterday the jury decided. guilty on all 7 charges. with sentencing to be decided next march(28th) 2024
also the feds have another 5 or so other charges it didnt push this year, but may press charges against him before or after next march, to add extra possible time to his sentencing
hope this teaches other dodgy CEX's a large lesson
Sam Bankman-Fried, once hailed as a genius in cryptocurrency, was found guilty Thursday of all fraud counts against him, a year after his exchange, FTX, imploded and practically wiped out thousands of customers.
The verdict was reached around 7:40 p.m. ET, about four hours after the federal jury in Manhattan began deliberations.
Bankman-Fried “perpetrated one of the biggest financial frauds in American history,” Damian Williams, the U.S. attorney for the Southern District of New York, said after the verdict.
Bankman-Fried faces up to 110 years in prison. His sentencing is scheduled for March 28
That's called karma; when you do bad things to others, expect that you will reap a bad result in the end, for sure. With the amount of money involved and the number of people who have been victimized, it is very unfair for the victims to see that the person who was victimized is free to go wherever he wants and the situation is still good, right?
So for me, that's good news; I just don't know if it's bailable or non-bailable. I just hope that no one is bribed with money from people related to that investigation.
