Sam Bankman-Fried will be back in court

If FTX founder Sam Bankman-Fried is found guilty of the 7 charges against him, he will spend the rest of his life in prison. Federal prosecutors accused him of defrauding customers and investors, committing money laundering, using money from FTX users to prop up Alameda.

Two financial regulators, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) also filed suit alleging similar violations.

Prosecutors intend to try him on several other charges in a separate trial that will take place in 2024.