In 50 Words: Sam Bankman-Fried found guilty on all 7 counts in FTX fraud case

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In 50 Words: Sam Bankman-Fried found guilty on all 7 counts in FTX fraud case

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Sam Bankman-Fried, former CEO of crypto exchange FTX, has been convicted of large-scale financial fraud that led to the downfall of his company.

He was found guilty of seven counts of fraud and conspiracy, potentially facing 20 years of jail time for each of the most serious charges. His sentencing is scheduled for March.

The outcome of the highest-profile crypto case marks a major triumph for Manhattan US Attorney Damian Williams.

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