Bankman-Fried faces sentencing for crypto fraud in US

US prosecutors are seeking a prison term of 40 to 50 years after a New York jury found Bankman-Fried guilty in November following a five-week trial.

If quickly freed,"it is realistic that he will settle on a narrative, lean into it, and convince other people to part with their money based on lies and the promise of false hope," Mr Williams said in a 113-page legal filing, accompanied by testimonials from dozens of victims. Bankman-Fried, 32, should serve about six years in prison, a sentence"that returns Sam promptly to a productive role in society," said attorneys led by Marc Mukasey.

However in November 2022, the FTX empire imploded, unable to cope with massive withdrawal requests from customers panicked to learn that some of the funds stored at the company had been committed to risky operations at Bankman-Fried's personal hedge fund, Alameda Research.

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