FTX founder Sam Bankman-Fried was found guilty on Thursday of defrauding customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire's fall from grace.
A 12-member jury in Manhattan federal court convicted him on all seven counts he faced after a monthlong trial in which prosecutors made the case that he stole $8 billion from the exchange's customers out of sheer greed. The verdict came just shy of one year after FTX filed for bankruptcy in a swift corporate meltdown that shocked financial markets and erased his estimated $26 billion personal fortune.
The jury reached the verdict after just over four hours of deliberations. Bankman-Fried stood and clasped his hands together as the verdict was read.
A wave of protests under the slogan "I Have No Oxygen" is set to sweep…
Trump suggested relocating 2 million people from Gaza to nations like Egypt and Jordan He…
This Greek Defense Minister Nikos Dendias, during a visit to Chicago, participated in a wide-ranging…
The United States has frozen foreign aid to most countries, including Ukraine, but exempted Israel…
Three Greek Australians have been recognized for their outstanding contributions to the community in the…
Tennis Australia has reiterated its stance against players competing in Russia after Thanasi Kokkinakis participated…