Sam Bankman-Fried, former CEO of cryptocurrency exchange FTX, was sentenced to 25 years in prison for crimes of fraud and conspiracy. Judge Lewis Kaplan issued the sentence in a Manhattan courtroom on Thursday, declaring that the former billionaire committed a “very serious crime” and lacked remorse.
Kaplan stated that Bankman-Fried committed perjury numerous times during his testimony in the trial, listing three specific occasions but saying that there were many more he could have added. Much of Mukasey’s statement focused on Bankman-Fried’s philanthropy, and painted the former crypto mogul as a sensitive, misunderstood figure who struggled with depression and social awkwardness. He described Bankman-Fried as “a beautiful puzzle”.
Before reading his sentence, Judge Kaplan gave a statement that noted Bankman-Fried came from an “exceptionally privileged background” and was extremely intelligent. He also acknowledged that Bankman-Fried has autism and said he took his condition and social awkwardness into account in the sentencing.
Sam Bankman-Fried, former CEO of cryptocurrency exchange FTX, was sentenced to 25 years in prison for crimes of fraud and conspiracy. Judge Lewis Kaplan issued the sentence in a Manhattan courtroom on Thursday, declaring that the former billionaire committed a “very serious crime” and lacked remorse.
Kaplan stated that Bankman-Fried committed perjury numerous times during his testimony in the trial, listing three specific occasions but saying that there were many more he could have added. Much of Mukasey’s statement focused on Bankman-Fried’s philanthropy, and painted the former crypto mogul as a sensitive, misunderstood figure who struggled with depression and social awkwardness. He described Bankman-Fried as “a beautiful puzzle”.
Before reading his sentence, Judge Kaplan gave a statement that noted Bankman-Fried came from an “exceptionally privileged background” and was extremely intelligent. He also acknowledged that Bankman-Fried has autism and said he took his condition and social awkwardness into account in the sentencing.
“Samuel Bankman-Fried orchestrated one of the largest financial frauds in history, stealing over $8bn of his customers’ money. His deliberate and ongoing lies demonstrated a brazen disregard for customers’ expectations and disrespect for the rule of law, all so that he could secretly use his customers’ money to expand his own power and influence.
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