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The downfall of former FTX CEO Sam Bankman-Fried from king of the crypto world to crypto scammer is complete.\n\nA Manhattan jury of nine women and three men took less than five hours Thursday afternoon, day 18 of the high-profile trial, to convict Bankman-Fried on seven counts of fraud and conspiracy for stealing billions of dollars of his customers\u2019 assets.\xa0\n\n\u201cSam Bankman-Fried perpetrated one of the biggest financial frauds in American history, a multi-million scheme designed to make him the king of crypto,\u201d said Damian Williams, U.S. attorney for the Southern District of New York in remarks following the verdict.\n\nThe guilty verdict came a year to the day after crypto publication CoinDesk published a story showing balance sheet irregularities at Bankman-Fried\u2019s investment company, Alameda Research, that suggested the ties between Alameda and FTX were unusually close. Bankman-Fried now faces potentially decades in prison. Sentencing is scheduled for March 28.\n\nAfter listening to Judge Lewis Kaplan read through 60 pages of instructions, jurors quickly concluded that Bankman-Fried was responsible for decisions that led to an $8 billion hole in its balance sheet, including the use of customer assets for political donations, investments and his own personal use. Prosecutors had reiterated this theme in a stinging, Thursday morning rebuttal.\xa0\n\nAnd jurors rejected whole-hog Bankman-Fried\u2019s defense team\u2019s narrative that Bankman-Fried was being villainized for being a poor manager who didn\u2019t create sufficient risk management systems. They also did not buy into Bankman-Fried\u2019s claim that he was unaware of the severity of his company\u2019s financial problems and that his inner circle, three of whom testified earlier in the trial as part of plea agreements, were to blame.\xa0\n\n\u201cWe respect the jury\u2019s decision,\u201d said Bankman-Fried\u2019s lead attorney, Mark Cohen. But we are very disappointed with the result. Mr. Bankman-Fried maintains his innocence and will continue to fight the charges against him.\u201d\n\nU.S. attorney Wiliams called Bankman-Fried\u2019s crimes \u201c fraud\u201d as \u201cold as time,\u201d and said his office had \u201cno patience for it.\u201d\xa0\n\nHe added: \u201cThis case moved at lightning speed, that was a choice, not a coincidence.\u201d\n\n\nCatch up on Unchained\u2019s previous coverage:\xa0\n\nSBF Trial, Day 1: Possible Witnesses Include FTX Insiders, Big Names in Crypto, and SBF\u2019s Family\n\nSBF Trial, Day 2: DOJ Says Sam Bankman-Fried \u2018Lied\u2019 While Defense Claims His Actions Were \u2018Reasonable\u2019\n\nSBF Trial, Day 3: Why a True Believer in FTX Flipped Once He Learned One Fact\n\nSBF Trial, Day 4: SBF\u2019s Lawyers Annoy Judge Kaplan, While Wang Reveals Alameda\u2019s Special Privileges\n\nSBF Trial, Day 5: SBF's Defense Finally Found Its Legs, But Can It Counter Caroline Ellison?\n\nSBF Trial, Day 6: Caroline Ellison Recalls 'The Worst Week of My Life'\n\nSBF Trial, Day 7: In SBF Trial, Did the Defense Lose Its Opportunity With the Star Witness?\n\nSBF Trial, Day 8: Former BlockFi CEO Adds Credibility to Fraud Charges\n\nSBF Trial, Day 9: Nishad Singh Describes Former FTX CEO as a Bully and Big Spender\n\nSBF Trial, Day 10: Defense Struggles to Discredit Nishad Singh's Testimony\n\nSBF Trial, Day 11: How Alameda Got FTX Into a $9 Billion Hole\n\nSBF Trial, Day 12: Former FTX General Counsel Speaks Out Against SBF\n\nDid Sam Bankman-Fried Have Intent to Defraud FTX Investors?\n\nWhy These Lawyers Say It's Over for SBF-But His Only Hail Mary Is to Testify\n\nHere\u2019s How Sam Bankman-Fried\u2019s High-Stakes Trial Could Play Out\n\nSBF Trial: How Sam Bankman-Fried\u2019s Lawyers Might Try and Win His Case\n\nThe High-Stakes Trial of Sam Bankman-Fried Begins: What to Expect\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices