US·United States
Sam Bankman-Fried
Founder, FTX (defunct)
convicted
Former FTX CEO convicted Nov 2023 on seven counts of fraud and conspiracy; sentenced March 2024 to 25 years. Notable political mega-donor before collapse.
LINKED SCANDALS
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LEGAL EVENTS
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RESEARCH
10 days ago
SANCTIONS
CLEAR
Deep research · Exaupdated 10 days ago
Sam Bankman-Fried, former CEO of cryptocurrency exchange FTX and trading firm Alameda Research, was sentenced to 25 years in prison and ordered to pay $11 billion in forfeiture for orchestrating multiple fraudulent schemes. Following a 2023 federal trial, he was convicted on seven counts: two counts of wire fraud, two counts of wire fraud conspiracy, and one count each of conspiracy to commit securities fraud, commodities fraud, and money laundering.
Between 2019 and 2022, Bankman-Fried misappropriated billions in customer funds to finance political donations, venture investments, and Alameda Research’s debt. He engaged in additional misconduct, including conspiring to bribe Chinese officials with up to $150 million to unfreeze Alameda assets and making over $100 million in illegal campaign contributions. He was also accused of witness tampering while released on bond.
Citations
Office of Public Affairs | Samuel Bankman-Fried Sentenced to 25 Years for His Orchestration of Multiple Fraudulent Schemes | United States Department of Justice
www.justice.gov · 2024-03-28
U.S. v. Bankman-Fried
ww3.ca2.uscourts.gov
Trial of Sam Bankman-Fried
en.wikipedia.org · 2023-10-20
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THE GOVERNMENT’S SENTENCING MEMORANDUM
s3.documentcloud.org
Case 1:22-cr-00673-LAK Document 115 Filed 03/28/23 Page 1 of 43
www.courthousenews.com
ORIGINAL
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UNITED
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