CEO of former TSM, LCS sponsor FTX sentenced to 25 years in jail
The founder and CEO of the now bankrupt crypto-exchange FTX, which landed major League of Legends sponsorship deals with both TSM and the LCS, has been sentenced to 25 years in prison for stealing billions of dollars from customers.
Sam Bankman-Fried, 32 years old, was sentenced to 25 years in prison for fraud and conspiracy, as federal prosecutors claimed he had cost customers, investors, and lenders around $10 billion by misappropriating funds, fabricating documents, lying to investors, and even bribing foreign officials. Prosecutors stated Bankman-Fried “orchestrated one of the largest financial frauds in history.”
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