FTX founder Sam Bankman-Fried faces the possibility of spending the rest of his life behind bars if convicted. A white-collar attorney explains his likely defenses.
is staring at the prospect of spending decades behind bars if he is convicted on the slew of charges he faces in connection with the collapse of his crypto empire as prosecutors seek retribution for countless customers who lost billions of dollars when the platform crumbled.
Sam Bankman-Fried, founder of FTX, center right, is escorted out of the Magistrate's Court in Nassau, Bahamas, Dec. 13, 2022.ranging from wire fraud to money laundering to conspiracy to commit fraud. Federal authorities accuse the former CEO of diverting investors' money to cover expenses, debts and risky trades at his crypto hedge fund, Alameda Research, in addition to making lavish purchases and illegal campaign contributions without telling his customers.
, pointing to Bankman-Fried's numerous press interviews and the written testimony he planned to deliver to Congress in person before his arrest in the Bahamas last week.
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