Sam Bankman-Fried, the former head of the FTX cryptocurrency platform, found himself in the dock and was found responsible for serious financial manipulation. In New York, a federal jury found that Bankman-Fried engaged in fraudulent schemes and maneuvers in the legislative field, which led to the laundering of large sums of money.
During the trial, the 31-year-old former head of FTX defended himself, arguing that he had no intention of breaking the law, and he described all his actions as “fatal mistakes.” Despite his denial of intentional wrongdoing, the jury found his actions to be intentional financial crimes.
The amount of damage, according to investigators, amounted to about 10 billion US dollars, and these funds were used for other purposes: they flowed between FTX and the hedge fund Alameda Research associated with the company. According to the indictment, client funds were used to pay off accounts receivable and purchase expensive real estate.
New York law enforcement spokesman Damian Williams emphasized the sheer scale of the crimes, comparing them to the largest scams in the country’s history.
For now, Sam Bankman-Fried is awaiting sentencing, which is scheduled for March next year, and continues to maintain his innocence.