FTX founder Sam Bankman Fried has been convicted of stealing billions of dollars from clients of the doomed cryptocurrency exchange, and prosecutors have described it as one of the largest financial fraud cases in US history.
The verdict made by the New York Federal Jury marks the end of the astonishing decline of the former king of cryptocurrencies, whose unkempt and talented young talent helped FTX leap into a powerful trading platform that has sponsored sports teams and hosted games by rugby superstar Tom Brady Exquisite advertisement starring model Gisele Bundchen and comedian Larry David.
A year ago, this cryptocurrency exchange suddenly collapsed, causing customers to lose billions of dollars. Bankman Freed, now 31 years old, was charged in December 2022 and agreed to leave his home in the Bahamas to face a series of fraud charges. At the end of the month long trial, Bankman Fried took the risk of appearing in court to defend himself.
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