The latest on the Sam Bankman-Fried (SBF) saga, former CEO of bankrupt FTX, which is in the criminal trial phase, has come to pass:
A jury on Thursday convicted FTX co-founder Sam Bankman-Fried of fraud, conspiracy and money laundering, the culmination of a month-long trial that saw the former crypto mogul take the stand in his own defense after his inner circle of friends-turned-deputies provided damning testimony against him.
The decision was reached after less than five hours of deliberation by a jury of nine women and three men, who found Bankman-Fried guilty of two counts of wire fraud, four counts of conspiracy to commit fraud and one count of conspiracy to commit money laundering. He could be sentenced to decades in prison. [WaPo]
Is it any surprise? Not really. I expect we’ll be seeing more convictions as people who thought they are clever find out they are not.
