After the monthlong trial, jurors rejected Bankman-Fried’s claim during testimony in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world’s second-largest crypto exchange, collapsed into bankruptcy a year ago.
Bankman-Fried is likely to face far less than the maximum at a sentencing set for March 28.
As the verdict was read, Bankman-Fried seemed stunned, appearing stone-faced, his hands clasped before him, as his lawyers remained sitting beside him.
His lawyer, Mark Cohen, later read a statement outside court to say they “respect the jury’s decision.
“But here’s the thing: The cryptocurrency industry might be new.
After the jury left the room, Bankman-Fried's parents, both Stanford University law professors, moved to the front row behind him.
Former federal prosecutors said the quick verdict — after only half a day of deliberation — showed how well the government tried the case. »
