We are told that if the verdict stands, SBF faces a maximum prison sentence of 110 years, with the judge having set the sentencing date for March 28, 2024.
The New York jury determined that the crypto-scammer defrauded customers, investors, and lenders with his cryptocurrency Ponzi scheme. SBF was convicted of seven charges: two counts of wire fraud and five conspiracy counts.
The 31-year-old son of two Stanford legal scholars, SBF was convicted of wire fraud and conspiracy to commit wire fraud against customer of FTX and Alameda Research lenders; securities fraud and conspiracy to commit commodities fraud against FTX investors; and conspiracy to commit money laundering.
Check out the cringeworthy clip below of SBF dancing in celebration of his stolen loot:
BREAKING: Crypto scammer Sam Bankman-Fried has been found guilty on all charges in his first criminal trial.
The New York jury determined Bankman-Fried defrauded customers, investors and lenders.
Bankman-Fried was found guilty on seven charges and faces a whopping maximum… pic.twitter.com/fXcjS4G8pC
— Collin Rugg (@CollinRugg) November 3, 2023
(Related: SBF funneled $1 billion in stolen funds to Democrats – where did it all go?)
Commenting on the case was Sara Bull, a popular social media influencer, who asked a rhetorical question about whether the recipients of SBF's stolen loot should now have to pay back what never belonged to them in the first place.
"Should Democrats have to pay back all of SBF's stolen donations?" Bull asked on X (formerly Twitter).
In his defense, SBF tried to claim "effective altruism," the idea being that his stolen riches were intended for "good intentions," though it all played out "with extreme carelessness and negligence, and likely also fraud," to quote CoinDesk.
"Today, his fortune is wiped out, and he faces criminal charges that could result in over a 100-years of jail time ... All of the well-intentioned benefits he pledged have instead been replaced by terrible damage to the lives of his customers."
It is obvious just from watching the clip above that SBF was probably not the mastermind behind the crimes he was convicted for, but is rather more of a patsy – his parents being the ones who deserve a little more probing.
More than likely, the FTX scam has ties to Ukraine, which many have speculated since the story first broke. The following image paints a picture of what is believed to have occurred, that second blue and yellow symbol representing Ukraine:
— Kim Dotcom (@KimDotcom) November 13, 2022
In other words, the government steals your money in the form of taxes, then sends billions of it over to Ukraine in several lump-sum payments. Ukraine then "invests" much of that money in FTX, all of this constituting money laundering.
"FTX donates huge amounts back to the Democrat Party," further explains 100percentfedup.com about how the scam more than likely worked. "The Democrats then use that money to buy, influence, and steal elections. What a great system!"
X owner Elon Musk tweeted about all this as well, providing the following evidence pointing to the arrangements that were made:
— Elon Musk (@elonmusk) November 13, 2022
"NOW does it make sense why billions of your tax dollars are going to Ukraine every month?"
Remember: After the FTX collapse, about $8.7 billion was owed to customers. At the same time, the Pentagon announced that an "accounting error" was responsible for an extra $6.2 billion that was sent to Ukraine – oopsie.
The latest news about the corrupt American financial system can be found at Corruption.news.
Sources for this article include: