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So did Sam Bankman-Fried intentionally commit fraud in FTX

Key Takeaways
  • According to information received from leaked documents, SBF had said that I did what I felt was right. Which raises many questions.
  • Sam Bankman-Fried is currently facing approximately 12 criminal charges related to fraud. Whose first trial will be held in October and the second in March.
  • What SBF did was fraud, but their justification for their crime shows that the fraud involving FTX was intentional.
18-Sep-2023 By: Rohit Tripathi
So did Sam Bankman-F

SBF believed that he did what he thought was right

SBF believed that he did what he thought was right

After the collapse of the cryptocurrency exchange FTX, till date, there has been no clarification in the fraud cases related to it. The exchange's former CEO Sam Bankman-Fried is currently in jail and is heading towards his first court trial, facing 12 charges. But from the beginning in their statements, they have been saying the same thing that they are innocent and have not carried out any kind of fraudulent activity. But now recently leaked documents have brought a new twist in this matter. In fact, in a draft document in one of its threads on X, SBF had denied all the allegations against it. However, this draft was never posted.

In this draft, Sam Bankman-Fried said that there would probably be nothing that I could do to make the impact of my lifetime positive. He further said that the truth is that I did what I felt was right. This statement of SBF is important in many cases, because if they are saying that the crypto fraud committed by them is true, then it shows that they had full knowledge about whatever they did. Overall, the documents show that this crypto fraud has been carried out deliberately. At present the matter is in the court. Court trials are also going to start soon. In such a situation, it will be interesting to see what new twists will come in this matter.

Sam Bankman-Fried's first trial will start in October

Sam Bankman-Fried is currently in jail in the FTX fraud case and will have to remain in jail until both of his trials are over. While Sam Bankman-Fried's first trial begins on October 3, his second court trial will begin in March. But due to putting pressure on witnesses and making their information public, Sam Bankman-Fried has to stay in jail. Earlier, the court had ordered SBF to remain under house arrest at his parents' house. At present, despite being in jail, the demand for Sam Bankman-Fried is not decreasing. They are using the internet and laptops in jail. At the same time, new arguments are being given before the court, which include repeated demands for release from jail.

Also Read: Actor Govinda Trapped in 1000 Crore Crypto Ponzi Scam

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