Sam Bankman-Fried has been found guilty on all seven charges in connection with the crypto fraud at FTX.
It really wasn’t that complicated a case. It was an old-fashioned Ponzi scheme using a complicated product, but the underlying fraud was the same as Bernie Madoff and a lot of other ponzi scheme operators, as I explained to Stuart Varney on October 3, 2023:
I predictws guilty verdicts in an interview with Fox Business radio earlier this week:
(if player does not load, click here)
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CNN lists the guilty verdicts:
Jurors deliberated from 3:15 pm ET to 7:45 pm ET.
The former crypto billionaire was found guilty of:
Count one: Wire fraud on customers of FTX
Count two: Conspiracy to commit wire fraud on customers of FTX
Count three: Wire fraud on Alameda Research lenders
Count four: Conspiracy to commit wire fraud on lenders to Alameda Research
Count five: Conspiracy to commit securities fraud on investors in FTX
Count six: Conspiracy to commit commodities fraud on customers of FTX
Count seven: Conspiracy to commit money laundering
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