The Effective Altruist founder now knows the full consequences of his crimes.
Share on email bankrupting cryptocurrency platform FTXJudge Lewis Kaplan chose a much harsher sentence for the disgraced crypto mogul than the defense's request of five to seven years.
In pre-sentencing comments, Kaplan ripped the disgraced entrepreneur for his "apparent lack of any remorse."“He knew it was wrong, he knew it was criminal, he regrets he made a very bad bet about the likelihood of getting caught," Kaplan said.FTX's bankruptcy is seen as the climax of the crypto crash that began as the price for bitcoin crested in November 2021.
since the trial. Otherwise, they might have known that Judge Kaplan had already said that this was not especially relevant.On Oct. 11, the court ruled that the defense could not bring up the Anthropic investment in court because the fact that customers were getting repaid was not relevant. "This is like saying that if I break into the Federal Reserve Bank, make off with a million bucks, spend it all on Powerball tickets and happen to win, it was OK," Judge Kaplan said as he made his ruling.
"The crime is the misappropriation. That's it. It's finished. The minute the misappropriation happens, whether it's used wisely, foolishly or whatever."as an effective altruist — someone who believed in donating lots of money to philanthropies that had strong evidence for their effectiveness.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX Founder Sam Bankman-Fried Found Guilty In Crypto Fraud CaseFTX founder Sam Bankman-Fried was found guilty on all 7 counts in his federal crypto fraud case.
Read more »
FTX Founder Sam Bankman-Fried Sentenced to 40-50 Years in Prison for $8 Billion TheftSam Bankman-Fried, the founder of FTX cryptocurrency exchange, has been convicted of stealing $8 billion from customers and has been sentenced to 40 to 50 years in prison. Prosecutors stated that Bankman-Fried defrauded investors, customers, and lenders during the collapse of his crypto empire. Despite the conviction, Bankman-Fried refuses to admit his wrongdoing. His lawyers argue for a prison term of 5¼ to 6½ years.
Read more »
Prosecutors Ask Judge to Sentence FTX Founder Sam Bankman-Fried to 40-50 YearsAttorneys for Bankman-Fried, meanwhile, say he should get no more than six-and-a-half years behind bars for stealing $8 billion from his customers.
Read more »
Crypto prodigy turned convict: FTX founder Sam Bankman-Fried sentenced to 25 yearsBankman-Fried, 32, was found guilty in November of multiple counts of fraud and conspiracy after his cryptocurrency exchange, FTX, imploded spectacularly.
Read more »
Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison for defrauding FTX investorsCrypto entrepreneur Sam Bankman-Fried was sentenced to 25 years in prison for a massive fraud that unraveled with the collapse of FTX.
Read more »
FTX founder Sam Bankman-Fried to serve up to 24.25 years in prisonThe crypto mogul, clad in a simple beige jumpsuit, remained stoic as he learned of his fate.
Read more »