A New York jury has convicted FTX founder Sam Bankman-Fried of fraud in a scheme that cheated customers and investors of at least $10 billion US.
Jurors reject claim he never meant to cheat customers before cryptocurrency exchange collapsed
FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry тАФ┬аa journey that included his testimony before the U.S. Congress, a Super Bowl advertisement and dreams of a future run for president тАФ hit a new bottom Thursday when a New York jury convicted him of fraud in a scheme that cheated customers and investors of at least $10 billion US.
After the month-long trial, jurors rejected Bankman-Fried’s claim during four days on the witness stand in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world’s second-largest crypto exchange, collapsed into bankruptcy a year ago.
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