Indictment Against Sam Bankman-Fried is Out and He Faces Up to 115 YEARS if Convicted

The 13-page indictment against disgraced FTX co-founder and CEO Sam Bankman-Fried was unsealed on Tuesday and he faces what would effectively be a life sentence behind bars if convicted on all counts.

Bankman-Fried was arrested in the Bahamas on Monday evening on eight counts: conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the United States and violate campaign finance laws.

Bankman-Fried is expected to be extradited to the United States within the next few weeks, though it could be longer were he to fight extradition. The Bahamas has an extradition treaty with the United States.

If convicted on all charges, Bankman-Fried, who went from being worth more than $20 billion to almost nothing, could face up to 115 years in prison.

Additionally, the Securities and Exchange Commission charged Bankman-Fried with two civil counts of securities fraud while the Commodity Futures Trading Commission charged him with two civil counts of fraud.

FTX has been accused of transferring client funds to crypto trading firm Alameda Research, which Bankman-Fried also co-founded, without its clients knowing. FTX and Alameda Research declared bankruptcy last month. Since then, Bankman-Fried has been making the media rounds, including interviews with ABC, The New York Times, The Wall Street Journal, and numerous other outlets.