Bankman-Fried Arrested and Tried in Eleven Months

In only eleven months, FTX founder Sam Bankman-Fried has been arrested, charged, and found guilty of all seven charges of fraud and conspiracy. FTX, a cryptocurrency empire, toppled last year due to a spike in withdrawals that exposed $8 billion missing. Bankman-Fried was accused by the prosecution for stealing $10 billion from FTX and moving it to his hedge-fund, Alameda Research. Between Bankman-Fried’s attempts at pre-trial motions to have the charges dismissed and the millions of documents that the prosecution put forward against him, there was plenty of opportunity for delay. But the judge cut through the noise by dismissing Bankman-Fried’s motions and by setting a timely trial date and the court was able to conclude the case in an efficient and timely manner. Likely facing decades in prison, Bankman-Fried’s sentencing is set for March 28, 2024.