SBF Convicted of Fraud, FTX Customers Unlikely to Recover Funds Fully Despite Separate Bankruptcy Pools
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Sam Bankman-Fried was convicted on all counts related to fraud and conspiracy for his activities with FTX.
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FTX bankruptcy proceedings have separated FTX.com and FTX.us customers into different creditor pools.
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Customers are unlikely to be made whole and will likely receive cash payouts from bankruptcy.
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SBF conviction helps customers claim theft losses for tax purposes.
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U.S. users of offshore FTX.com may have deduction challenges due to illegal activity.