Sam Bankman-Fried found guilty of wire fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering

After a month long trial, the jury in Sam Bankman-Fried's trial took less than four hours come to the decision that he is guilty on all charges, "including wire fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering". Sam will be sentenced March 28th, 2024. In a very brief nutshell, the crypto exchange FTX used money belonging to customers to fund a trading firm called Alameda Research (very illegal), which was the equivalent of a Sportsbet account for SBF but instead of a cheeky lobster on the Roos to beat the Eagles, it's a few billion on random real estate, political donations and crypto startups. When the shit hit the fan (his bets didn't work out but he owed customers money), SBF and mates tried to cover it all up and when the law came, his mates quickly turned and blamed SBF for everything. His defence was basically "I tried my best but fucked up", but nobody believed it so here we are. TIME has a solid article outlining how it all played out. Expect a Hollywood movie about FTX and SBF in 3-5 years.