Convicted FTX cryptocurrency fraudster awaits fate


Key Topics in this News Article:

News Snapshot:

Sam Bankman-Fried will learn his sentence Thursday, four months after he was found guilty of orchestrating the multibillion-dollar fraud that prompted the collapse of the FTX cryptocurrency exchange. Bankman-Fried, 32, was convicted in November by a jury on each of the two counts of fraud and five counts of conspiracy he was facing. He has been jailed at the Metropolitan Detention Center facility in Brooklyn ever since, with his bail having been revoked over witness-tampering allegations. Federal prosecutors are seeking as much as 50 years of the statutory 110-year sentence implied by the conviction. Bankman-Fried apparently lacks a criminal history,...