Sam Bankman-Fried, who once ran one of the world’s biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month-long trial in New York.
The jury delivered its verdict after just four hours of deliberations.
It concludes a stunning fall from grace for the 31-year-old former billionaire and one of the most public faces of the crypto industry.
Bankman-Fried was arrested last year after his firm, FTX, went bankrupt.
He had pleaded not guilty to all the charges, maintaining that, while he had made mistakes, he had acted in good faith.
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47 Comments
He'll be out in 7 years or less for good behavior.
He was one of the biggest Democrat donors they need to take back the money from these Democrats.
Lock him up throw away the key
Not difficult to fool Americans, look at Israel!
Doubt what he has done is any different to what the bankers are doing and those who have lost people's pensions. What about the British government losing Billions of tax payers money and being unable to account for any of it. Who's getting sent to decades in prison for that?!
Crypto isn't an industry. It's the new beanie babies.
He'll top himself
He's FRIED!
Please ALL be careful with gambling, markets, and trading GET RICH QUICK SCHEMES in Youtube ads etc. Only ONE person is going to get rich – and it's NOT YOU.
What is common between Bernie Madoff, Jeffrey Epstein, Lou Pearlman, Jordan Belfort, Sam Bankman-Fried, Jack Abramoff and Anthony Weiner?????
His parents are just as guilty by giving him advice on how far he should push the boundaries of the law , they also paid themselves a salary and directly benefited from the fraud , these are disgusting people who put money ahead of their own childs welfare
Meanwhile Banks /Politicians/Insurance companies go Burr
SafeMoon Charlatans next
LOL……….'we have no patience for it ' …………but they sat by letting it all happen like with SafeMoon and the HUNDREDS of others .
wheres the money sell his homes
Both of his parents will wind up homeless, living somewhere in tent city.
Yes he deserves to be given a lengthy sentence but he is a small fish in a large pond of greed and corruption!
March 28th ?i guess he will be appealing then
Man this is so anti semitic. The judge is a terrorist
OY VEY!!!
Crazy, Fraud will get you life behind bars while a murder sentence is 25years; insane.
entrusting your money to a man who can't even get his hair in order was a big fat mistake
lol
i knew this guy was shady
If you live in an one room apartment and sleep on a futon, at least you're not SBF. Appreciate life you have, dude.
What a flawed justice system that the US has! Deeply flawed, it's almost like the Islamic Sharia justice system, based on a few feeble humans as juries. This gentleman has done absolutely NOTHING wrong! The moment you put your money into a new idea, a new start up company, you yourself should be held accountable for any future losses. The only difference between Sharia Law and the US injustice system is, the Islamists only count men as juries, but otherwise it's the same system. We saw in the past how billionaires could get away with disgusting crimes simply through buying the courts.
#Trumpwon
i bet SBF democrat friends gonna go after him now
a reminder: SBF did not Epstein-ed himself
He’s guilty and all his investors are guilty of gross stupidity 😂
Thank You Coffeezilla👍
The Creep stole $100 Million from the Ontario, Canada Teachers pension fund. Slime Bucket.
Sam Bank Man Fraud 😂
While hsbc do it and still going! The banks are the biggest frauds
A miniscule bit of faith has been restored.
👍👍
He's just a scapegoat. There is a bigger picture going on here.
Make him a lifer 🎉
He is the explame to all scammers. Time to buy BTC and ALGO Tony bit of #XVG
Sam BANK-man Fraud
Even if he gets 100 years he be able to retrial later
🤷🏻♂️ thanks for letting me get the bitcoin dip
Because in Canada it is legally possible to get a name change, it is also easier for persons to fake their true identity. Understanding the structure of Crypto platform's may suggest Ruja Ignatova probably operating as a broker under the disguise of a fake identity because she's no longer the CEO of a major platform. A cat that likes to drink milk can't stop such a craving. A lady with an accent similar to Ruja Ignatova going by the name Christina Baldwin, claiming to be working as the senior financial adviser in the trading department at My Profit Live, a subdivision of a major crypto platform which carries the name NDAX and is base in Alberta Canada. This person is also ripping off a whole lot of people in North America and probably around the world. She is tagging people on Facebook and other social media to entice them to contact her to do trading then fraud them.
Now lets see eho washed money with him and what political figures took money.
The fake bbc wont even touch that.
No its about money laundering
Jew lawyers jew attorneys, not even one jew on the jury. Hahahaha.
Lock him up and throw away the key!
The Bankman is fried.
The fact that people would actually fall for these nerds is beyond me, most scammers use fancy words and terminology to get Gullible people to fall for their scam. I have a high school education and even I know we back all our currency up here in Good old U.S.A using Silver and Gold. So unless these guys have some imaginary gold mine or Silver mine posted up somewhere how in the world do they expect do double the profits of anyone who invests in their company.
Not to mention The government and U.S treasury department are the only ones who have authority to change currency.
The treasury department has silver and gold bars to keep track of how much money we can allow into circulation.
FREAKIN hilarious these clowns can make up their own currency, trade bit coin in exchange for nickel, quarters , Dimes, or the all mighty dollar. Then Expect all retailers and stores to accept them as a legitimate form of money.
I might as well Walk into Walmart and buy a bunch of stuff using animal skin or Tobacco , hahaha , my form of currency.
I think my favourite part was learning that the display of cash on hand they claimed to have was just a random number generator.
Its their religion and traditions since more than 3000 years we have to respect it #freepalestine
Prison isnt good enough