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For South Africa’s prosecuting authorities, used to operating in something approaching geological time, the conviction of Sam Bankman-Fried for fraud relating to a failed crypto exchange must have seemed like a “blink and you’ll miss it” event.

Last week, Bankman-Fried was found guilty on seven counts of fraud related to the collapse of crypto exchange FTX, once one of the most trusted names in digital assets. Bankman-Fried formed FTX only in 2019, and his wealth soared to $23bn at one point...

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