Breaking: Disgraced Crypto Fraudster Sam Bankman-Fried Sentenced to 25 Years in Prison

Disgraced cryptocurrency conman Sam Bankman-Fried was sentenced Thursday to 25 years in prison for orchestrating one of the biggest financial fraud schemes in American history.

Manhattan Judge Lewis Kaplan handed down Bankman-Fried’s sentence for stealing over $8 billion of customer funds from bankrupt crypto exchange FTX. Federal prosecutors sought at least 40 years in prison for Bankman-Fried for perpetrating the FTX scam against the company’s customers and investors, and investors in sister hedge fund Alameda research.

The defendant’s attorneys asked for a five-to-seven-year sentence, citing their client’s autism as an extenuating circumstance.

Bankman-Fried was convicted on seven criminal fraud counts last year after a month-long trial where prosecutors argued that he misused customer funds to cover losses at Alameda research and fund his lavish spending spree.

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Disgraced Crypto Fraudster Sam Bankman-Fried Sentenced to 25 Years in Prison

The defendant’s attorneys asked for a five-to-seven-year sentence, citing their client’s ... READ MORE

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