Posted 3/28/2024, 4:18:00 AM
Bankman-Fried Faces Decades in Prison for FTX Fraud and Conspiracy Conviction
- Sam Bankman-Fried faces up to 50 years in prison when sentenced for defrauding FTX investors and customers
- He was convicted of fraud and conspiracy for illegally using FTX customer funds to cover personal expenses
- Prosecutors say he stole money, lied, sent fake documents, made illegal donations, and bribed officials
- His attorneys argue he's unlikely to reoffend and investors have recovered funds, which creditors dispute
- Three former associates, including his ex-girlfriend, testified Bankman-Fried knew he was likely committing crimes