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Sam Bankman-Fried convicted of $10 billion fraud, capping crypto king’s epic fall
Now you can call him “Sam Bankman-Fraud.” A Manhattan federal jury has convicted Sam Bankman-Fried of stealing $10 billion from users of his crypto exchange and lying to lenders and investors — capping a fall from grace for an ex-billionaire who was once viewed as one of the crypto world’s brightest stars. The 31-year-old disgraced tech mogul was found guilty of all seven fraud and conspiracy charges stemming from a scheme to swipe money from users of his FTX exchange to pay off debts at his failing hedge fund Alameda Research and purchase lavish real estate. Bankman-Fried, wearing a gray suit and purple tie, ... (full story)
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