The significance of FTX founder Sam Bankman-Frieds fraud conviction
John Yang:
Geoff, it took a jury just over four hours to convict Sam Bankman-Fried on one of the biggest financial frauds in history. Investors lost nearly $10 billion.
Afterward, federal prosecutor Damian Williams said crooked financiers should take note.
Damian Williams, U.S. Attorney, Southern District of New York: It's a warning, this case, to every single fraudster out there who thinks that they're untouchable or that their crimes are too complex for us to catch, or that they're too powerful for us to prosecute, or that they could try to talk their way out of it when they get caught.
Those folks should think again and cut it out. And, if they don't, I promise well have enough handcuffs for all of them.
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