Bankman-Fried, 32, of Stanford, California, was convicted last November of two counts of wire fraud conspiracy, two counts of wire fraud and one count of conspiracy to commit money laundering.
The disgraced FTX founder was sentenced Thursday following his fraud conviction.Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud that unraveled with the collapse of FTX.A judge sentenced Sam Bankman-Fried to 25 years in prison Thursday for orchestrating what prosecutors have called one of the biggest financial frauds in American history.
He conceded his "mismanagement" caused Alameda, his privately controlled hedge fund, to shut down after its initial success and said he "failed everyone and everything I care about too." "I suffered every day," Kavuri said. "This is a continuous lie that we are all made whole ." He added that he had "money I wanted to spend on a family home taken away."
"The defendant's argument hinges on what amounts to an assumption that customers of FTX are going to be made whole in the bankruptcy," Kaplan said. "The defendant's assertion that FTX customers and creditors will be paid in full is misleading; it is logically flawed." "A sentence here of at least 40 years is necessary to make sure the defendant cannot do it again," Roos said.
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