The court sentenced Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, to 25 years in prison.
This verdict comes after a tumultuous period marked by fraud, perjury, and witness tampering allegations.
FTX’s Sam Bankman-Fried Sentenced to 25 Years in Prison
Despite arguments from Sam Bankman-Fried‘s defense team portraying him as a misunderstood genius, Judge Kaplan’s findings painted a starkly different picture. Kaplan highlighted Bankman-Fried’s false testimonies, stating he lied about his knowledge of FTX customer deposit expenditures.
As a result, Bankman-Fried received a 25-year sentence in a federal penitentiary for committing fraud against clients and backers of the cryptocurrency exchange FTX. Additionally, Kaplan noted Bankman-Fried’s attempts at witness tampering, further complicating the founder’s legal battle.
Marc Mukasey, Bankman-Fried’s attorney, attempted to soften his client’s image, emphasizing his non-malicious intentions. Mukasey described Bankman-Fried as an “awkward math nerd” with passions for video games, veganism, and animal welfare, arguing that his client never intended to harm anyone
