Sam Bankman-Fried (FTX)
FTX founder Sam Bankman-Fried was convicted of defrauding customers of $8 billion. His crypto exchange collapsed in November 2022. He was sentenced to 25 years in prison.
Sam Bankman-Fried, founder of cryptocurrency exchange FTX, was convicted of seven counts of fraud and conspiracy on November 2, 2023. He had stolen $8 billion in customer deposits.
FTX collapsed in November 2022 when it was revealed that customer funds had been secretly funneled to Bankman-Fried's trading firm Alameda Research. The collapse wiped out billions in customer savings.
At his peak, Bankman-Fried was worth $26 billion. He lived in a luxury penthouse in the Bahamas and was one of the largest political donors in the U.S., cultivating an image as an altruistic 'effective altruist.'
He was sentenced to 25 years in federal prison in March 2024. The case was the largest financial fraud case since Bernie Madoff.
Curated starting points for verifying and researching this case. Direct references are checked; search links are provided as further-reading aids. ColdCaseIndex is an index of public information — see a case correction? Email info@coldcaseindex.com.
Have Information About This Case?
Cold cases are solved when someone comes forward. Even a detail that seems minor can matter. If you have any information about this case, contact law enforcement through one of these channels:
- FBI Tips (tips.fbi.gov) — submit a tip online to the Federal Bureau of Investigation
- FBI Tip Line: 1-800-CALL-FBI (1-800-225-5324)
- The local police department or sheriff's office in New York, or the state bureau of investigation
Tips can usually be submitted anonymously. To report an error on this page, email info@coldcaseindex.com.