Sam Bankman-Fried, the founder of the failed FTX crypto exchange, has finally been sentenced for the massive multi billion dollar fraud committed.
Bankman-Fried, or SBF as he is frequently referred to, has been sentenced to 240 months in prison, which is to be followed by a consecutive 60 months for a total of 300 months in prison, or 25 years. The sentence was handed down by Judge Lewis Kaplan of the United States District Court for the Southern District of New York.
In making his decision, Kaplan stated that the Probation Department had recommended 105 years as a sentence, while the Government aimed for 40 to 50 years, but that such a sentence would be “more than necessary.”
Sponsored · Granada Gold Mine
READ: “Why Were The Bitcoins Missing?”: FTX CEO Lambasts Bankman-Fried’s Claim That The “Harm… Is Zero”
Kaplan added that he had “never seen a performance” like SBF’s in the court during his 30 years serving as a judge, referring to his lies, evasiveness, hair splitting, and constant requests for questions to be rephrased.
Information for this briefing was found via Inner City Press and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
