Sam Bankman-Fried sentenced to 25 years in prison

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He was recovered blameworthy of 7 counts of fraud and conspiracy.

Former FTX CEO Sam Bankman-Fried arrives for a bail proceeding astatine Manhattan Federal Court connected August 11, 2023 successful New York City. Federal prosecutors are asking U.S. District Court Judge Lewis Kaplan to revoke Bankman-Fried's bail and to beryllium jailed until his October criminal trial. Bankman-Fried who has pleaded not blameworthy to aggregate conspiracy and fraud charges was accused of witnesser tampering aft nan New York Times published a communicative featuring individual documents of Caroline Ellison, erstwhile Alameda Research CEO. Judge Kaplan will besides perceive arguments connected nan gag bid placed connected Bankman-Fried that was placed arsenic portion of his bail statement for nan alleged witnesser tampering.

SBF did not person a bully day. Credit: Photo by Michael M. Santiago/Getty Images

Sam Bankman-Fried, crypto bro and scammer extraordinaire, was conscionable sentenced to 25 years successful prison aft being recovered guilty of 2 counts of ligament fraud conspiracy, 2 counts of ligament fraud, 1 count of conspiracy to perpetrate money laundering, conspiracy to perpetrate commodities fraud, and conspiracy to perpetrate securities fraud.

"The defendant's assertion that FTX customers and creditors will beryllium paid successful afloat is misleading, it is logically flawed, it is speculative," Judge Lewis Kaplan said, according to Reuters. "A thief who takes his loot to Las Vegas and successfully bets nan stolen money is not entitled to a discount connected nan condemnation by utilizing his Las Vegas winnings to salary backmost what he stole."

Bankman-Fried, nan laminitis and erstwhile CEO of crypto speech FTX, scammed customers retired of astir $10 cardinal and led to nan full illness of FTX and different hedge fund, according to a November ruling

He faced a maximum imaginable condemnation of 110 years successful prison. During nan case, Judge Kaplan accrued nan sentencing guidelines scope for Bankman-Fried because he perjured himself and knowingly obstructed justice.

Bankman-Fried said astatine nan criminal sentencing hearing that he made a "series of selfish decisions." He said his coworkers "built thing really beautiful and I threw each of that away," and said his determination "haunts [him] each day."

Bankman-Fried will apt entreaty some his condemnation and his sentence.

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Christianna Silva is simply a Senior Culture Reporter astatine Mashable. They constitute astir tech and integer culture, pinch a attraction connected Facebook and Instagram. Before joining Mashable, they worked arsenic an editor astatine NPR and MTV News, a newsman astatine Teen Vogue and VICE News, and arsenic a stablehand astatine a mini-horse farm. You tin travel them connected Twitter @christianna_j.

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