Sam Bankman-Fried sentenced to 25 years for FTX fraud
FTX founder Sam Bankman-Fried once bragged that he had a 5 percent chance of becoming president of the United States | Collage by Cath Virginia / The Verge | Photo by Victor J. Blue, Bloomberg, Getty Images
FTX co-founder Sam Bankman-Fried was sentenced to 300 months, or 25 years, in prison for seven counts of conspiracy and fraud charges stemming from the collapse of the crypto exchange he started. Judge Lewis Kaplan’s sentence was shorter than the 40 to 50 years requested by prosecutors, which he said was more than necessary, but longer than the six and a half years Bankman-Fried’s lawyers asked for and far less than the maximum sentence of 110 years.
Before announcing the sentence, Inner City Press reports Judge Kaplan called the defense’s claims that people would be paid back speculative, finding customers of FTX lost $8 billion, and that Bankman-Fried attempted to tamper with witnesses, perjured himself, and falsely testified about…
