The former CEO of defunct crypto exchange FTX Sam Bankman-Fried’s (SBF) trial is set to begin in October, barring any postponement. Ahead of the trial, here are some key details to note as SBF faces up to 100 years imprisonment if found guilty by the jury.
Charges Leveled Against FTX’s Founder
The US Department of Justice (DOJ) has charged SBF with seven counts of fraud-related crimes, namely: Wire fraud of FTX customers, conspiracy to commit wire fraud on FTX customers, wire fraud on lenders to Alameda Research, conspiracy to commit wire fraud on lenders to Alameda Research, conspiracy to commit securities fraud on FTX investors, conspiracy to commit commodities fraud on FTX customers, and conspiracy to commit money laundering.
Sam Bankman-Fried was initially charged with 13 counts in an earlier indictment. However, the prosecution decided to drop six of them, including the ‘violation of campaign finance rules’ charge, as those charges didn’t form part of the US governme
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