FTX founder sentenced after fraud conviction

A federal judge sentenced FTX founder Sam Bankman-Fried following his conviction on fraud and conspiracy counts.

The sentencing followed a jury verdict finding Bankman-Fried guilty of wire fraud and related charges. Prosecutors argued that customer funds were diverted to Alameda Research, while defense attorneys sought leniency.

The case remains central to regulatory discussions about oversight of crypto exchanges and custodial practices.

Sources

U.S. Department of Justice: FTX founder convicted of fraud

U.S. Department of Justice - 2023-11-02