**Just In: 🚨** Trial of FTX Founder Sam Bankman-Fried Commences in New York 🏛️⚖️
The trial of FTX founder Sam Bankman-Fried (SBF) has officially begun in New York, USA, starting at 22:30 on the 3rd. SBF faces allegations brought by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the U.S. Attorney's Office for the Southern District of New York (SDNY). The accusations include misappropriation of billions of dollars in customer funds from 2019 to November of the previous year to settle debts of affiliate Alameda Research, the purchase of luxury real estate in the Bahamas, and illegal donations exceeding $100 million to U.S. politicians. He faces seven charges, with U.S. District Judge Lewis Kaplan informing the jury that the trial is expected to last six weeks. SBF's defense team and U.S. prosecutors have initiated the jury selection process. If found guilty, SBF could potentially face up to 115 years in prison.
#SBF #FTX #LegalTrial #CryptoNews
The trial of FTX founder Sam Bankman-Fried (SBF) has officially begun in New York, USA, starting at 22:30 on the 3rd. SBF faces allegations brought by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the U.S. Attorney's Office for the Southern District of New York (SDNY). The accusations include misappropriation of billions of dollars in customer funds from 2019 to November of the previous year to settle debts of affiliate Alameda Research, the purchase of luxury real estate in the Bahamas, and illegal donations exceeding $100 million to U.S. politicians. He faces seven charges, with U.S. District Judge Lewis Kaplan informing the jury that the trial is expected to last six weeks. SBF's defense team and U.S. prosecutors have initiated the jury selection process. If found guilty, SBF could potentially face up to 115 years in prison.
#SBF #FTX #LegalTrial #CryptoNews