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BREAKING: Sam Bankman-Fried Receives 25-Year Prison Sentence for Multi-Billion Dollar Fraud

FTX founder Sam Bankman-Fried leaves the Federal Court in New York after he was released on a $250 million bond and ordered to detention in his parent’s California home on December 22, 2022. Photo by Charles Guerin/Abaca/Sipa USA(Sipa via AP Images)

FTX founder Sam Bankman-Fried received a 25-year prison sentence for defrauding $8 billion from cryptocurrency investors.

Sam Bankman-Fried

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.

Prosecutors described the case as “one of the biggest financial frauds in U.S. history.”

Inner City Press live tweeted the sentencing.

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