BREAKING: Sam Bankman-Fried Sentenced To 25 Years In Prison
28 Março 2024 - 1:14PM
NEWSBTC
In a highly anticipated courtroom verdict, Sam Bankman-Fried, the
founder of the collapsed cryptocurrency exchange FTX, has been
sentenced to 25 years in prison for defrauding users. US District
Judge Lewis Kaplan delivered the judgment during a Lower Manhattan
federal courtroom hearing. Related Reading: The Bulls Are Back:
Spot Bitcoin Inflows Surge With New Records FTX Founder Sam
Bankman-Fried Sentenced Judge Kaplan sternly criticized the
defense’s argument, labeling it as “misleading, logically flawed,
and speculative.” As reported by our sister site, Bitcoinist,
Kaplan highlighted Bankman-Fried’s obstruction of justice and
witness tampering during his defense, which were significant
factors considered in the sentencing decision. Bankman-Fried
expressed remorse in a statement, acknowledging that his series of
“selfish” decisions as the leader of FTX had led to the exchange’s
downfall. He admitted to having “thrown it all away” and expressed
regret that continues to haunt him daily. Prosecutors had initially
sought a maximum sentence of 50 years, while Bankman-Fried’s legal
team argued for a maximum of 6 years. In November, Bankman-Fried
was found guilty on seven criminal counts, and he has since been
held at the Metropolitan Detention Center in Brooklyn. Life Plans
Shattered Late Tuesday, prosecutors submitted documents containing
testimonies from victims, shedding light on the impact of
Bankman-Fried’s actions. One victim, whose name was redacted, wrote
a letter dated March 15, describing the destruction of their entire
life and the emotional toll it had taken on their family.
They emphasized that they had entrusted their funds to FTX as a
custodian, not consenting to the risks Bankman-Fried had taken with
their money. The victim shared the suffering that had led to
depression and even thoughts of suicide. Related Reading: Fantom:
Market Slowdown Chops Off 10% From Gains – Here’s Why During the
trial, prosecutors revealed that Bankman-Fried had diverted funds
from FTX customers, amounting to as much as $8 billion. These funds
were allegedly used to finance a wide range of external interests,
including political initiatives, speculative investments, and
funding the lifestyles of FTX executives. Featured image from
Shutterstock, chart from TradingView.com
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