Sam Bankman-Fried found guilty of defrauding FTX customers out of billions

The prosecutor said that 'while the cryptocurrency industry might be new ... this kind of corruption is as old as time' Sam Bankman-Fried, the founder of now-bankrupt crypto exchange FTX, was found guilty on all counts of defrauding his customers on Thursday in Manhattan federal court. The one-time mogul stood with his hands clasped facing the jury as he was found guilty on seven counts of wire fraud and conspiracy to launder money. He faces decades in prison at a sentencing hearing that US dist...