Marley Jay is a business news reporter for NBC News Digital.
Former cryptocurrency billionaire Sam Bankman-Fried faces the prospect of a long prison sentence, but that's not the end of the FTX legal saga. The FTX co-founder and ex-CEO was convicted of all seven fraud and money laundering charges against him on Thursday. He faces as many as 110 years in prison if Judge Lewis Kaplan gives him maximum sentences and consecutive terms. Bankman-Fried is scheduled to learn his sentence on March 28, 2024.
The money was given to Alameda's lenders and also paid for FTX corporate sponsorships, its Super Bowl ad, for enormous loans to corporate insiders, among other things. LaVigne, who is also the head of Withers’ US litigation team, said there are essentially two paths to returning funds to people who lost money to FTX, and to FTX and Alameda's creditors. The first involves the U.S. government.
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