Sam Bankman-Fried has been found guilty of defrauding customers of his now-bankrupt cryptocurrency exchange in one of the biggest frauds ever.
The 31-year-old could be sentenced to more than 100 years in prison after cheating thousands of FTX customers out of billions of dollars.
A Manhattan jury convicted him on all seven counts after a month-long trial. He will be sentenced next year.
FTX collapsed last November, shocking financial markets and wiping out the crypto tycoon’s estimated $26bn (£21bn) wealth.
Bankman-Fried – who denied two counts of fraud and five of conspiracy – clasped his hands together as the verdict was delivered after four hours of deliberation.
He took a calculated risk to testify last week, admitting “mistakes” in running FTX but insisting he didn’t steal his customers’ money.
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This story originally appeared on Skynews
