The FTX saga, including some of the notable stars, seems to be never-ending. Almost a year ago the crypto exchange company filed for bankruptcy which took everyone by storm. People worldwide invested millions of money in the company founded by Sam Bankman-Fried. He was arrested in December 2022, and since then the trial has been ongoing.
Furthermore, NBA stars Shaquille O’Neal and Steph Curry are two of the prominent sports stars among the athletes that were involved. The two have been dragged into the controversy due to their celebrity endorsements that were managed by FTX. The legal trouble brewed for them because of the association. While the contracts signed remained closed, the news of FTX aiming to repay the athletes made waves.
In the recent trial, Sam Bankman-Fried was found guilty of all the charges that were put against him. As a result, he is likely to face a life sentence as he faces a 110-year max sentence. In most cases, the sentences are brought down to a minimum of years that are decided by the jury. However, the extreme of the FTX fraud case could lead to a life sentence for Bankman-Fried.
Additionally, during Bankman-Fried’s trials, his friends turned back on him. The former CEO’s ex-girlfriend Caroline Ellison blamed him for all the crimes. Furthermore, Bankman-Fried’s childhood friend and co-founder of FTX Gary Wang accepted the charges against him and testified to the accusations against Bankman-Fried.
Sam Bankman-Fried’s brother was missing from the trial recently
During the recent trial on November 2 when Sam Bankman-Fried was found guilty, his parents could be spotted tear-eyed. Both of them held their faces in their hands to try to hide themselves and likely have a moment to themselves as they heard the jury’s declaration.
Amidst the court drama that was unfolding in front of everyone, one person who was noticeably missing was Sam Bankman-Fried’s brother Gabriel. The reason behind Gabriel’s absence remains unknown as well as his relationship with Sam.
Furthermore, Sam’s parents Joseph Bankman-Fried and Barbara Bankman-Fried were present in each trial that has happened over the year. Both of them are prominent Stanford law professors and have been supporting their children by being present.
Additionally, Sam Bankman-Fried was charged with misusing customers’ money after customer funds worth $1 billion were missing. The court has noted that Bankman-Fried repeatedly lied and the attorney mentioned how this is by far the most extreme case. The next trial is scheduled for March 2024 wherein other issues will be addressed and the years for prison sentence will be officially announced.