The former Chief Executive Officer of FTX, Sam Bankman-Fried, has been convicted on seven counts of criminal fraud brought against him, as per a recent jury verdict.
What Happened: As CNBC disclosed, Bankman-Fried was found guilty on charges including wire fraud, conspiracy to commit wire fraud, securities fraud, commodities fraud, and money laundering. The conviction could lead to a maximum sentence of 115 years in jail for the 31-year-old former FTX chief.
