Sam Bankman-Fried Convicted in FTX Crypto Fraud Case

Sam Bankman-Fried, the founder of FTX, has been found guilty on all seven counts of fraud, conspiracy, and money laundering in one of the highest-profile financial crime cases in years. The charges include wire fraud conspiracy, wire fraud, conspiracy to commit money laundering, conspiracy to commit commodities fraud, and conspiracy to commit securities fraud. Bankman-Fried, a former cryptocurrency billionaire, could face a maximum sentence of 20 years in prison for some charges. The verdict comes after FTX's bankruptcy in 2022, which cast a cloud over the entire crypto industry.