In a New York court today FTX founder and former ambassador for 'Effective Altruism' Sam Bankman-Fried was found guilty by a jury of his peers.
NEW YORK (AP) — Jury convicts FTX founder Sam Bankman-Fried of fraud charges after historic cryptocurrency collapse.
— Seung Min Kim (@seungminkim) November 2, 2023
SBF was convicted on two counts of fraud and five counts of conspiracy.
— Greg Price (@greg_price11) November 2, 2023
More herehttps://t.co/et0VnZPUcn
Bankman-Fried has been staging his defense over the last few weeks, but given the mountains of evidence that became very public very quickly surrounding his management of crypto-currency exchange and hedge-fund FTX this guilty verdict was not unexpected.
Wow. I'm shocked. Color me shocked. A huge Democrat money launderer and supporter was found guilty.
— The_Americat (@The_Americat2) November 2, 2023
Due apparently to issues around the extradition of Bankman-Fried from where he had been hiding out in the Bahamas the charge that had been originally planned involving campaign finance was dropped at the end of this past July, as Twitchy's Gordon K. wrote at the time. But there's no question that Bankman-Fried's large political donations raised all sorts of red flags. Bankman-Fried's donations to Democrats are well documented, having given north of 6 million dollars to various Democratic PACs; he has claimed that he gave a 'roughly equal' amount to Republican PACs but it was all 'Dark Money' and therefore untraceable... and why wouldn't we take the word of a good upstanding man like Sam Bankman-Fried?
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Still, despite all the money it seems that Sam Bankman-Fried doesn't have many friends left in the world, if Twitter is any judge.
Good. Justice. Next. https://t.co/7YXW6ZxyIU
— Jason Kint (@jason_kint) November 2, 2023
Wow! Good, He deserves this.
— Lulucaliente (@Lulucaliente) November 2, 2023
Good !
— Airplaneguy - 🇺🇸❤️🇺🇦🌻🌻threads.AirplaneguyDC (@Airplaneguy_DC) November 2, 2023
Very nice!!!🙌🏻 I’m glad there’s at least ONE COURTROOM in America where JUSTICE still presides!!!🤷🏼♂️
— Trevor Thacker (@trethack24) November 2, 2023
Okay, now when will we lock up all the politicians that enabled, protected, and took money from Sam Bankman Fraud?
— Tree of Life (@xTreeOfLife) November 3, 2023
We wouldn't hold our breath.
Depending on how sentencing for Bankman-Fried goes this could be a very consequential decision:
MORE - The charges carry a maximum sentence of over 100 years in prison. SBF will be sentenced on March 28, 2024.
— Disclose.tv (@disclosetv) November 3, 2023
Bankman-Fried's attorneys are expected to appeal the verdict, per Reuters.
It's nice to see him see some consequences on this, but we'll be anxious to see how much time the man who's been called the 'Crypto-Bernie Madoff' actually gets for his crimes. At least any appeals may give us some more entertaining courtroom sketches to look at, so that's nice.
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