Sam Bankman-Fried's conviction on fraud charges on Thursday (Nov 2) has marked a significant victory for a broader crackdown on white collar crime in the United States, said Manhattan's top federal prosecutor Damian Williams after Bankman-Fried’s trial ended on Nov 2.
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00:00 Sam Bankman Freed perpetrated one of the biggest financial frauds in American
00:04 history. A multi-billion dollar scheme designed to make him the king of crypto.
00:10 Here's the thing, the cryptocurrency industry might be new. The
00:16 players like Sam Bankman Freed might be new. But this kind of fraud, this kind of
00:21 corruption is as old as time and we have no patience for it. This case moved at
00:27 lightning speed. That was not a coincidence, that was a choice. And it's
00:33 also a message. It's a warning, this case, to every single fraudster out there who
00:40 thinks that they're untouchable or that their crimes are too complex for us to
00:45 catch. Or that they're too powerful for us to prosecute. Or that they could try
00:51 to talk their way out of it when they get caught. Those folks should think
00:55 again and cut it out. And if they don't, I promise we'll have enough handcuffs
01:01 for all of them.
01:04 you
01:06 you
01:08 [BLANK_AUDIO]