FTX founder Sam Bankman-Fried leaves the Manhattan federal courthouse on Tuesday, January 3, 2023. Photo: Ryland West/ALM FTX Founder Sam Bankman-Fried Found Guilty on All Counts in Crypto Fraud Trial
Jurors heard testimony from former FTX customers, investors and, crucially, a group of former employees who testified about Bankman-Fried's state of mind and behind-the-scenes actions as his companies grew and then collapsed in November 2022.
November 02, 2023 at 07:54 PM
4 minute read
White Collar Crime
A Manhattan federal jury found former cryptocurrency mogul Sam Bankman-Fried guilty of fraud and money laundering charges Thursday after more than four hours of deliberation and nearly a month of witness testimony outlining the collapse of crypto exchange FTX and crypto trading firm Alameda Research.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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