Finance professor explains why Sam Bankman Fried will be in prison

FTX founder and former chief executive Sam Bankman-Fried and Caroline Ellison, head of its now-defunct trading affiliate, have tapped defense attorneys as U.S. authorities probe the crypto exchange’s collapse, according to a spokesperson for Bankman-Fried and a source familiar with Ellison’s selection.

Bankman-Fried has retained Mark S. Cohen, of Cohen & Gresser, Bankman-Fried’s spokesperson Mark Botnick said in an emailed statement. Cohen could not be reached for comment.

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