Sam Bankman-Fried Found Guilty On All 7 Criminal Counts

Sam Bankman-Fried Found Guilty On All 7 Criminal Counts

Crypto exchange FTX founder Sam Bankman-Fried was found guilty of all the seven criminal counts he faced, according to Damian Williams, US attorney for the Southern District of New York. The announcement was made on Thursday, November 2, 2023, after the verdicts following a month long trial.

The FTX collapse in November 2022 marked one of the darkest phases for the crypto market, with the unfolding of the decline led to losses to the tune of billions of dollars for individual investors.

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Biggest Frauds In US History

With the verdict, Bankman-Fried faces a sentence with maximum prison time of 115 years. The attorney said in a briefing:

“Sam Bankman-Fried perpetrated one of the biggest financial frauds in American history. The cryptocurrency industry might be new. The players like Sam Bankman-Fried, Fried might be new. But this kind of fraud, this kind of corruption, is as old as time and we have no patience for it.”

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Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at or or

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


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