carolineellison
FTX founder Sam-Bankman-Fried faces decades in jail after being found guilty on all charges. The 31-year-old former billionaire will be given his sentence on March 28 next year after he was convicted on seven counts federal counts of fraud and conspiracy in connection with losing $8 billion of customer funds in his cryptocurrency exchange - which at its peak of success was worth an estimated $32 billion - after first being arrested nearly a year ago in the Bahamas. Damian Williams, the US attorney, said: "Sam Bankman-Fried perpetrated one of the biggest financial frauds in American history - a...
BANG Showbiz English
The former ‘King of Crypto’ Sam Bankman-Fried has insisted he acted on legal advice. The 31-year-old entrepreneur is currently on trial in a New York federal court answering on a string of charges - including fraud, money laundering and illegal and, if convicted, faces decades in prison- in relation to allegedly stealing billions of dollars from his cryptocurrency exchange FTX to fund his other company Alameda Research, among other crimes. His lawyer, Mark Cohen, asked Sam: "Did you take comfort from the fact that lawyers had structured the loans?" Sam - who pleaded not guilty to two counts of...
BANG Showbiz English
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