He could face a sentence of up to 110 years in prison.
In this June 15, 2023, file photo, FTX founder Sam Bankman-Fried leaves Manhattan federal court, in New York.A jury has found FTX founder Sam Bankman-Fried guilty on all charges in his federal fraud and conspiracy"We will have decorum in the courtroom when the verdict is announced," Judge Lewis Kaplan said before the reading.Mary Altaffer/AP, FILE
Bankman-Fried was charged with seven counts of fraud, conspiracy and money laundering in what federal prosecutors have described as "one of the biggest financial frauds in American history." FTX founder Sam Bankman-Fried looks on as U.S. District Judge Lewis Kaplan gives instructions to the jury and sends them out to deliberate, at federal court in New York, on Nov. 2, 2023, in this courtroom sketch.He pleaded not guilty to all counts. With the conviction on all charges, he could face a sentence of up to 110 years in prison. His sentencing was scheduled for March 28, 2024.is currently scheduled for March 11, 2024.
During the month-long trial in Manhattan federal court, the prosecution laid out the case that this was an elaborate and intentional fraud, while the defense tried toWhile testifying in his own defense, Bankman-Fried conceded on the witness stand that he made mistakes but said he committed no fraud.that he only learned two months before FTX collapsed into bankruptcy that Alameda had spent $8 billion of FTX customer funds.
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