Sam Bankman-Fried, the tousle-haired mogul who founded the FTX cryptocurrency exchange, was convicted on Thursday of seven charges of fraud and conspiracy after a monthlong trial that laid bare the rampant hubris and risk-taking across the crypto industry.
Mr. Bankman-Fried became a symbol of crypto’s excesses last year when FTX collapsed and he was charged with stealing as much as $10 billion from customers to finance political contributions, venture capital investments and other extravagant spending.
A jury of nine women and three men took more than four hours of deliberation on Thursday to reach a verdict, convicting Mr. Bankman-Fried of wire fraud and conspiracy.
Together the counts carry a maximum sentence of 110 years.
Mr. Bankman-Fried, 31, is expected to appeal.
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