A US jury has found FTX founder Sam Bankman-Fried guilty on all counts of fraud, embezzlement and criminal conspiracy. The 31-year-old former cryptocurrency mogul could face decades in prison.A federal jury in New York has convicted FTX founder Sam Bankman-Fried of defrauding customers of his now-bankrupt cryptocurrency exchange.

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The 31-year-old former billionaire was accused of stealing billions from FTX customers and investors in one of the biggest financial frauds in US history.

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Bankman-Fried could face decades in prison.

The verdict came after a monthlong trial in which prosectors argued he had acted out of sheer greed, spending the money on investments, real estate and promotions for his cryptocurrency exchange.

During the courtcase, three of Bankman-Fried's former top executives pleaded guilty to fraud charges and testified against him.

More to come...

(The above story first appeared on LatestLY on Nov 03, 2023 06:10 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).