In a landmark decision, the US Court has found FTX founder Sam Bankman-Fried guilty of seven criminal charges with the sentencing hearing scheduled in March 2024. As we know, SBF’s inner circle – Caroline Ellison, Gary Wang and Nishad Singh – have given their testimonies over the past few weeks.
All three individuals stated that Bankman-Fried instructed them to engage in fraudulent activities by assisting in the transfer of billions of dollars in FTX customer funds to Alameda, an affiliated hedge fund primarily owned (90%) by Bankman-Fried.
Their accounts were further supported by the fact that they had already admitted guilt in connection with the offense as part of cooperation agreements reached with prosecutors.
What Happens to SBF’s Inner Circle?
Cooperating witnesses often get less severe punishments, especially when they help the government catch a bigger culprit. Bankman-Fried, who was a prominent figure in the crypto industry, has been convicted of a crime, and his co
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