Sam Bankman-Fried Asks for 6½ Year Prison Term After Conviction in FTX Collapse. Now faces up to 110 years. He need our prayer's 🙏

After being found guilty of fraud last year and facing sentencing next month, former FTX boss Sam Bankman-Fried (SBF) has petitioned the court for a fair sentence of 63 to 78 months.

His legal team has objected to the Presentence Investigation Report (PSR) which recommends a sentence of 100 years in prison, labeling it as "grotesque." Bankman-Fried was convicted on seven charges of fraud and conspiracy in connection to the 2022 collapse of FTX.

Bankman-Fried's attorneys argue that he is a 31-year-old, first-time, non-violent offender who partook in the misconduct alongside at least four other individuals.

They emphasize that the victims were poised to recover their full losses, highlighting that the harm to customers, lenders, and investors is zero because the FTX bankruptcy estate anticipates fully repaying its customers.

They also point out that FTX and FTX.US were solvent when the companies filed for bankruptcy, with FTX’s bankruptcy estate claiming to have over $10 billion in assets despite the exchange’s $8 billion hole.

The lawyers assert that considering these factors, a "just sentence" should be determined based on an adjusted offense level leading to an advisory Guidelines range of 63-78 months. They also stress Bankman-Fried’s charitable works and commitment to others, advocating for a sentence that promptly returns him to a productive role in society without exceeding what is necessary to comply with the purposes of sentencing.

In response to negative characterizations of Bankman-Fried as a "sociopath," "an ice-cold manipulator, bully and shameless liar," and "one of history’s most notorious fraudsters," his legal team presents a different perspective.

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