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HomeMarketBankman-Fried sentenced to 25 years in jail

Bankman-Fried sentenced to 25 years in jail


  • Sam Bankman-Fried has been sentenced to 25 years in jail. 
  • FTX imploded in November 2022, with prospects dropping billions of {dollars} in property.

Sam Bankman-Fried, the founder and former CEO of collapsed crypto alternate FTX, has been sentenced to 25 years in jail. 

FTX imploded and filed for chapter in November 2022. Sam Bankman-Fried has been in jail awaiting sentence since being discovered responsible of fraud final 12 months.

SBF will get 25 years in jail for fraud

US District Decide Lewis Kaplan despatched Bankman-Fried to jail for lower than what prosecutors had requested for. Nonetheless, the sentencing has delivered a well timed reminder to crypto bosses after the FTX demise reverberated throughout the business in 2022.

The sentencing on Thursday marks the top of one of many largest fraud associated instances on this planet, with 32-year outdated Bankman-Fried on the heart. He was additionally ordered to forfeit greater than $11 billion in property. 

The previous FTX chief apologized for his actions briefly remarks earlier than the decide’s sentence. Nonetheless, his declare that FTX prospects can be made complete didn’t sit nicely with the decide.

The defendant’s assertion that FTX prospects and collectors can be paid in full is deceptive, it’s logically flawed, it’s speculative,” Decide Kaplan famous.

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