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Bankman-Fried, ex-crypto mogul, found guilty of fraud
Hindustan Times
|November 04, 2023
Sam Bankman-Fried, the one-time cryptocurrency golden boy accused by US prosecutors of stealing billions of dollars of his customers' money, was found guilty on Thursday on all counts and faces up to 110 years behind bars.
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The jury reached its decision in just five hours after a trial in New York lasting five weeks. Sentencing for the man widely known as "SBF" will take place on March 28, 2024.
US Attorney Damian Williams said in a statement after the verdict was announced BankmanFried had "perpetrated one of the biggest financial frauds in American history, a multibillion-dollar scheme designed to make him the king of crypto."
"The crypto currency industry might be new, players like SBF might be new, but this kind of fraud, this kind of corruption is as old as time and we have no patience for it."
This story is from the November 04, 2023 edition of Hindustan Times.
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