Sam Bankman-Fried Found Guilty on All Fraud Counts

Sam Bankman-Fried Found Guilty , on All Fraud Counts.

The FTX founder has been convicted of seven criminal counts of fraud, CNBC reports.

Five counts pertain to conspiracy, and two counts are associated with wire fraud.

The maximum sentence that the 31-year-old faces is 115 years in prison.

Damian Williams, U.S. attorney for the Southern District of New York, issued a statement after Bankman-Fried was found guilty.

Damian Williams, U.S. attorney for the Southern District of New York, issued a statement after Bankman-Fried was found guilty.

Sam Bankman-Fried perpetrated one of the biggest financial frauds in American history, Damian Williams, U.S. attorney for the Southern District of New York, via statement.

This case should send a clear message to anyone who tries to hide their crimes behind a shiny new thing they claim no one else is smart enough to understand: the Justice Department will hold you accountable, Damian Williams, U.S. attorney for the Southern District of New York, via statement.

Mark Cohen, Bankman-Fried's attorney, said that his client “maintains his innocence and will continue to vigorously fight the charges against him.”.

His legal team will likely appeal the verdict, Fox News reports.

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A sentencing hearing has been set for March 28