Each of Bankman’s other crimes carries a maximum sentence of 5 to 20 years in prison.
former criminal trial lasting five weeks ftx CEO Sam Bankman-Fried (sbf) is finally finished. Sam Bankman-Fried, who was charged with multiple counts of fraud and criminal conspiracy, has been found guilty of all seven charges against him. The decision was taken after about four hours of deliberations by the jury in his criminal trial in New York.
According to the verdict, Bankman-Fried was found guilty of two counts of wire fraud, two counts of wire fraud conspiracy, one count of commodities fraud conspiracy, one count of securities fraud and one count of money laundering conspiracy. Therefore, he is expected to return to court on March 28, 2024, when New York District Judge Lewis Kaplan will issue his final verdict and sentence.
What is Sam Bankman-Fried watching?
There is no doubt that government prosecutors will recommend a sentence. However, it is just that: a recommendation. It is still up to Judge Kaplan to decide what Bankman’s sentence will be.
Meanwhile, each of Bankman’s other crimes carries a maximum sentence of between 5 and 20 years in prison. However, wire fraud, wire fraud conspiracy, and money laundering conspiracy all carry a maximum sentence of 20 years.
Shortly after the court found Bankman-Freed guilty, New York Southern District US Attorney Damien Williams spoke to the press. The lawyer claims that Bankman’s crimes will go down as one of the largest financial frauds in American history. He also said that the once-popular crypto icon “planned a multi-billion dollar scheme designed to make him the king of crypto.”
not going down without a fight
While Bankman-Fried’s legal fate has already been sealed, her legal team may still believe in miracles. His attorney Mark Cohen expressed the team’s disappointment at the jury’s decision. He also released a part statement,
“Mr. Bankman Fried maintains his innocence and will continue to vigorously fight the charges against him.
Bankman-Fried pleaded not guilty to all charges during her criminal trial. On several occasions, he attempted to recuse himself from major decisions, culminating in the popular November 2022 Fall of FTX Exchange,
Most of the time, Bankman-Fried pointed the finger of blame at other top executives at her company, attempting to shift the blame onto them. For example, he blamed FTX co-founder Gary Wang for creating a function that allowed Almeida to trade funds on FTX that he did not own. He also accused Alameda Research CEO Caroline Ellison of failing to focus on risk management.
Whatever the case, it certainly looks like it may be time for Bankman-Fried to close.

Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his writing style. He strongly believes in the potential of digital assets and takes every opportunity to reiterate it. He is also a reader, a researcher, an astute speaker and a budding entrepreneur. However, away from crypto, Mayowa’s imaginary distractions include discussing football or world politics.
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