Sam Bankman-Fried sentenced to 25 years for FTX fraud
FTX co-founder Sam Bankman-Fried was sentenced to a total of 300 months, or 25 years, in prison for seven counts of conspiracy and fraud charges stemming from the collapse of the crypto exchange he started. The judge applied a 240-month sentence and a 60-month sentence to be served consecutively.
Judge Lewis Kaplan’s sentence was shorter than the 40 to 50 years requested by prosecutors, which he said was more than necessary, but longer than the six and a half years Bankman-Fried’s lawyers asked for and far less than the maximum sentence of 110 years.
Before announcing the sentence, Inner City Press reports that Judge Kaplan called the defense’s claims that people would be paid back speculative, finding that customers of FTX lost $8...