HOW SAM BANKMAN-FRIED'S CRYPTO SCAM WORKED

Once a crypto luminary, Sam Bankman-Fried's journey took a stunning turn as he faced the fallout from one of the largest financial fraud cases. The charismatic founder of FTX, known for his unconventional style, found himself at the center of accusations—looting a staggering $8 billion from FTX users after the exchange's bankruptcy.

In a riveting trial, Bankman-Fried passionately defended himself, admitting errors in managing FTX but vehemently denying any misappropriation of customer funds. Prosecutors painted a different picture, alleging he redirected funds to his hedge fund, Alameda Research, for personal gain, loans, and even political contributions.

Former associates added layers of drama, testifying that Bankman-Fried directed them to commit financial crimes. The courtroom tension reached its peak when the jury, after intense deliberation, sided with the prosecution, delivering a verdict that shook the crypto world.

Scheduled for March 28, 2024, Bankman-Fried's sentencing carries the weight of potential decades behind bars. Beyond the legal drama, this case serves as a cautionary tale in the dynamic realm of digital assets, showcasing the risks and controversies that accompany the rise and fall of crypto magnates.