That is lower than federal prosecutors had been searching for, as they sought a sentence of 40 to 50 years.
Sam Bankman-Fried, the founding father of failed cryptocurrency trade FTX, was sentenced to 25 years in federal jail on Thursday for defrauding traders.
Bankman-Fried’s sentence was shorter than the 40 to 50 years federal prosecutors had sought and the utmost penalty of 110 years, however greater than the 6.5 years SBF protection attorneys had sought.
SBF instructed the courtroom: “I’m the CEO of FTX and I’ve duties.”
FTX and hedge fund Alameda Analysis collapsed in November 2022, shedding $8 billion in buyer financial savings. At a trial in 2023, he was discovered responsible of seven counts of fraud, conspiracy and cash laundering.
Below federal sentencing tips, SBF may very well be sentenced to as much as 110 years in jail.
FTX and Alameda executives had been charged in the identical case, with Gary Wang, Caroline Ellison, Nishad Singh and Ryan Salame all pleading responsible and accepting offers.
