Charles Guerin/Abaca/Sipa via AP Images
FTX founder Sam Bankman-Fried has been given a 25-year prison term for defrauding $8 billion from cryptocurrency investors.
U.S. District Judge Lewis Kaplan turned down the government’s request for a 50-year sentence for the 32-year old Bankman-Fried.
SBF was convicted on seven counts of fraud and conspiracy after FTX collapsed in 2022.
BREAKING: Sam Bankman-Fried sentence to 25 years in prison for defrauding customers of the collapsed, multibillion-dollar cryptocurrency exchange. pic.twitter.com/GX0VYwor0O
— MSNBC (@MSNBC) March 28, 2024
Prosecutors described the case as “one of the biggest financial frauds in U.S. history.”
Inner City Press live tweeted the sentencing.
OK – Sam Bankman-Fried sentencing has arrived, Inner City Press wrote the book (Crypto Criminal https://t.co/ExLjXQJArQ and will live tweet, thread below pic.twitter.com/Mhmb2ypF1X
— Inner City Press (@innercitypress) March 28, 2024
