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Why Bitcoin looks worse than a Madoff-style ponzi scheme: Robert McCauleyLegal experts compared the convicted FTX fraudster's case to that of Bernie Madoff, who got sentenced to years in prison crypto empire. Sam Bankman-Fried is set to begin his trial on Oct. 3, and a person jury likely will spend weeks deliberating over a slew of criminal. Sam Bankman-Fried, the disgraced founder of the collapsed cryptocurrency exchange FTX, was arrested in the Bahamas on Monday after U.S.