FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer

Published March 20, 2024 5:11 PM

By LARRY NEUMEISTER
Associated Press

NEW YORK (AP) — The chief executive of the cryptocurrency company Sam Bankman-Fried founded attacked the onetime crypto power player in a letter to a federal judge, saying his claim that customers, lenders and investors were not harmed was callously false. FTX Trading Limited CEO John J. Ray III told Judge Lewis A. Kaplan on Wednesday that Bankman-Fried’s victims have suffered and continue to suffer from his crimes. Bankman-Fried is scheduled to be sentenced next week after his conviction last year on charges that he misappropriated billions of dollars while running FTX and affiliated companies from 2017 until November 2022.

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