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  • Vukan

Sam Bankman-Fried Found Guilty, up to 115 Years in Jail

A sentence date of 28th of March 2024 has been set, as SBF is looking at 115 years in prison for fraud surrounding the now defunct FTX exchange

Sam Bankman-Fried Ready for Jail
Sam carried out of the courtroom

Sam Bankman-Fried, the founder and former CEO of FTX, has been found guilty of defrauding customers in a major financial fraud case in New York.

Sketch of Sam in the courtroom.
Sketch of Sam in the courtroom. Pictures or video recordings are not allowed.

The verdict, which came after a five-week trial, included all seven charges against him. U.S. Attorney Damian Williams, describing it as "one of the biggest financial frauds in American history", mentioned that Bankman-Fried could face decades in prison, with a potential sentence of up to 115 years.

U.S. Attorney Damian Williams
U.S. Attorney Damian Williams

The twelve New Yorkers who voted guilty on all seven counts confirmed that the verdict unanimous. A tentative sentencing date has been set for March 28, 2024. Bankman-Fried, however, plans to appeal and maintain his innocence, according to his defense attorney, Mark Cohen. Sam Bankman-Fried Found Guilty, up to 115 Years in Jail

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