Sam Bankman-Fried convicted on seven counts of fraud and conspiracy
Jury convicted Sam Bankman-Fried on all seven counts after a one-month trial: two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit money laundering, conspiracy to commit commodities fraud, and conspiracy to commit securities fraud. Underlying conduct: misappropriation of $8B+ in FTX customer funds via secret transfers to Alameda Research, with funds used to make political donations (including to both major US parties), buy real estate, and fund ventures. Sentenced March 28, 2024 to 25 years federal prison.