đ° SAM BANKMAN FRIED VS. 50-YEAR PRISON SENTENCE
âïž Lawyers representing former FTX CEO Sam âSBFâ Bankman-Fried argue against the proposed maximum sentence of 50 years in prison, calling it medieval and unjust.
đ They claim the proposed sentence distorts reality and portrays Bankman-Fried as a âdepraved super-villain,â advocating instead for a reduced sentence of five to six years in prison.
The prosecutors filed additional documents alongside a sentencing memorandum, suggesting a 40-to-50-year sentence for Bankman-Fried, who was convicted on fraud and money laundering charges in November 2023.
The defense team argues against the proposed sentence, stating that there were no actual losses as bankruptcy proceedings would make all customers and lenders whole.
They also dispute the portrayal of Bankman-Fried as greedy, highlighting his philanthropic efforts and modest lifestyle.
Additionally, they challenge claims of high risk of re-offending, citing low recidivism rates for white-collar, educated offenders without prior records.
Bankman-Friedâs lawyers accuse the prosecution of making unsupported claims and propose a reduced sentence of approximately five to six and a half years, emphasizing the loss Bankman-Fried has already endured.
The jury trial concluded Bankman-Fried guilty of all seven charges brought against him by the U.S. government, nearly a year after the collapse of FTX.
what do you think about this story? Are 50 years deserved?
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- Matthias Mende
Founder of Bonuz
