Sam Bankman-Fried guilty: What happens to FTX founder next?


FTX founder Sam Bankman-Fried was found guilty on November 2 by a Manhattan jury.

He was accused of orchestrating one of the biggest financial frauds in US history.

The 31-year-old was arrested last year after his firm, FTX, went bankrupt.

Bankman-Fried was found guilty on five charges, carrying a maximum prison term of 20 years.

He will face 110 years in prison if he receives the maximum penalty on all counts.

Judge Lewis Kaplan scheduled a tentative hearing on March 28 to discuss the sentence.

The FTX founder’s lawyers are planning to appeal the guilty verdicts against him at that time.

Legal experts say it is likely that Bankman-Fried will remain in jail until that time.

However, he will have opportunities to work in jail and contribute to society, even after his sentence.

The former cryptocurrency billionaire was worth $26 billion but now holds a net worth of $4M.

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