Cryptocurrency exchange FTX was once valued at $32bn (£26bn), but when it went bankrupt in November last year $8bn in customer funds was missing. Bankman-Fried stood in front of the jury with his hands clasped as the verdict was read, while his parents sat with their heads in their hands.Sam Bankman-Fried, who once ran one of the world’s biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month-long trial in New York. The jury found him guilty of lying to investors and lenders and stealing billions of dollars from FTX, helping to precipitate its collapse. He had been charged with seven counts of fraud and money laundering. Five of the charges Bankman-Fried was found guilty of carry a maximum prison term of 20 years, with a five-year maximum on the other two charges. DO youn think that Sam Bankman-Fried could have been given an option of refunding back the money to investors after a certain period ?
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