Originally freed on a $250 million personal recognizance bond to live with his parents in Palo Alto, California, he was jailed in August after Judge Lewis A. Kaplan concluded that he had tried to t…
In this courtroom sketch, FTX founder Sam Bankman-Fried, right, testifies as Judge Lewis Kaplan, upper left, presides during Bankman-Fried’s trial in Manhattan federal court, Tuesday, Oct. 31, 2023, in New York. A pie chart showing where all the customer funds were spent is displayed on monitors.
In this courtroom sketch, FTX founder Sam Bankman-Fried, background center, is cross examined by U.S. Assistant Attorney Danielle Sassoon, left, while Judge Lewis Kaplan listens, background second left, in Manhattan federal court, Monday, Oct. 30, 2023, in New York. Members of the jury are seated at right.
The verdict came quickly after a Manhattan federal court jury began deliberating midway through the afternoon. Bankman-Fried, 31, could face decades in prison after prosecutors said he cheated thousands of customers of billions of dollars before the collapse of his companies in November, 2022. Prosecutors said he spent the money on investments, real estate, promotions for his cryptocurrency exchange and political contributions.
After his arrest last year, U.S. Attorney Damian Williams said the fraud was one of the largest in U.S. history.NEW YORK — A New York jury began deliberating on Thursday whether FTX founder Sam Bankman-Fried was guilty of fraud in the disappearance of billions of dollars from his customers’ accounts on the cryptocurrency exchange he created four years ago.
Earlier Thursday, Assistant U.S. Attorney Danielle Sassoon delivered a rebuttal argument, the last of closing arguments that began a day earlier. She said he “dazzled investors and Congress and the media, and worked around the clock to build a successful business” while overseeing the stealing of FTX funds.“He knew it was wrong, he lied about it and he took steps to hide it,” the prosecutor said.
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