FTX’s Sam Bankman-Fried loses appeal of criminal conviction on fraud, conspiracy charges
One argument Bankman-Fried advanced was that the funds he misappropriated were in investments that would eventually grow. “As the district court recognized, any contention that Bankman-Fried lacked an intent to defraud because he intended to eventually repay his customers was legally misleading and prejudicial because the wire fraud statute encompasses temporary misappropriation of money or...
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