The former FTX Crypto Tycoon is found guilty on all counts of fraud and conspiracy.

I'm David Bruncacia.

One of the biggest fraud cases in American history came to a quick close yesterday. After just about four

hours of deliberation, a jury in New York convicted Sam Bankman Freed, the

founder of the collapsed cryptocurrency exchange FTX.

Prosecutors said he stole at least $10 billion from customers.

Marketplace's Nova Sopo is here with more.

Yeah, guilty on all seven charges of fraud and conspiracy, which could add up to as much as 110 years in prison.

And for all the complexities involved in the cryptocurrency world,

federal prosecutors in the Southern District of New York ultimately presented a relatively

simple case.

Here's how Carl Tobias, who chairs the law school at the University of Richmond, explained

it.

It was portrayed by the Southern District as garden variety fraud and that was easy

for the jury to understand and it worked.

Garden variety fraud. In fact prosecutors painted a damning picture of Sam Bankman Freed in no small part

through the testimony of three of his closest allies at FTX and Alameda Research, which was the hedge fund where the stolen funds were diverted.

Those three half-pleaded guilty, including Caroline Ellison, 28 years old.

She was chief executive at Alameda and testified that Bankman Freed directed her to falsify

documents.

It's, I think, unusual at these kinds of trials, but Bankman Freed took the stand.

What did he have to say?

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