FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl advertisement and dreams of a future run for president — hit rock bottom Thursday when a New York jury convicted him of fraud for stealing at least $10 billion from customers and investors.
His lawyer, Mark Cohen, later read a statement outside court to say they “respect the jury’s decision. But we are very disappointed with the result.”“Mr. Bankman Fried maintains his innocence and will continue to vigorously fight the charges against him,” Cohen said.
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Bankman-Fried found guilty of massive crypto fraudSam Bankman-Fried, the one-time cryptocurrency golden boy accused by US prosecutors of stealing billions of dollars of FTX customers' money, was found guilty on Thursday on all counts, and now faces up to 110 years behind bars.
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