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.

Breaking-News2.png
hero news image

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

ADVERTISEMENT

national review

Follow Us & Share

19 West 44th Street, Suite 1701,
New York, NY, 10036, USA
Your Preferences | Unsubscribe | Privacy
View this e-mail in your browser.

Commentaires

Posts les plus consultés de ce blog

This Is What Fish Oil Supplements Actually Do

Chris Froome sends out strong message to his rivals as he storms back to win Criterium du Dauphine for the second time

Kid draws a hilarious family portrait, featuring his mother on her period