SBF Verdict Has Lessons for DOJ’s Handling of Corporate Criminals
WASHINGTON, D.C. – Sam Bankman-Fried (SBF) was found guilty on Thursday for his role in the collapse of crypto exchange FTX. Bartlett Naylor, financial policy advocate for Public Citizen, released the following statement:
“The rapid guilty verdict affirms that jurors can understand financial fraud, a lesson that the Justice Department should apply broadly to corporate criminals. With crypto, an implicit Ponzi scheme, regulators should continue to put the brakes on a grift whose victims disproportionally include the vulnerable. If reports are accurate, the Justice Department possesses sufficient evidence to charge CZ and Binance, and it should not hesitate to prosecute them. In addition, the Justice Department must conclude its pursuit of SBF’s electioneering misconduct.”