LAWYERING UP: Disgraced FTX boss, top exec retain high-powered counsel as criminal case heats up
The charges against him include wire fraud on customers, plus a related conspiracy charge; wire fraud on lenders, plus a conspiracy charge; in addition to conspiracies to commit commodities fraud, securities fraud, money laundering, and violate campaign finance laws.
In total, the charges Bankman-Fried faces carry a total potential sentence of up to 115 years in prison based on federal sentencing guidelines for those crimes. The wire fraud charges – including the conspiracy charges – and the money laundering conspiracy count carry a maximum sentence of 20 years in prison apiece. Each of the commodities and securities fraud charges and the campaign finance conspiracy charge carries a maximum sentence of five years in prison.
Sam Bankman-Fried, co-founder and ex-CEO of FTX, in Hong Kong, China. A judge in the Bahamas ordered Bankman-Fried held until Feb. 8 despite federal charges against him in the United States. Williams also issued an ominous warning to Bankman-Fried's conspirators who may face charges, saying, "In terms of whether we're going to bring charges against anyone else, look, I can only say this: Clearly, we are not done."
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