😱😱😱Sam Bankman-Fried Sentenced to 25 Years in Prison
Mr. Bankman-Fried, who was convicted of stealing $ 8 billion from customers of the #FTX cryptocurrency exchange, faced a maximum sentence of 110 years in prison.
Former cryptocurrency emperor #SamBankman-Fried -Fried, convicted of fraud, was sentenced to 25 years in prison on Thursday, ending an extraordinary saga that turned the trillions of dollars crypto industry upside down and turned into a cautionary tale of greed and arrogance.
Mr. Bankman-Fried's sentence was shorter than the 40- to 50-year prison term recommended by federal prosecutors but above the six-and-a-half-year sentence requested by defense lawyers. A federal probation officer had recommended a sentence of 100 years in prison, including 110 years behind bars, the maximum possible sentence.
The sentence was handed down by Judge Lewis A in Federal District Court in Manhattan. It was given by Kaplan. Mr. Bankman-Fried, 32, was in the courtroom, clean-shaven and wearing a baggy, brown prison uniform. Jul.
Before the penalty was imposed, Mr. Bankman-Fried apologized to FTX customers, investors and employees. "A lot of people are feeling really let down and they are very disappointed," she said. "I'm sorry about that. I am sorry for what happened at every stage. He added that his decisions made him “lose his mind” every day.
