FTX cryptocurrency exchange founder Sam Bankman-Fried sits between his defence attorneys Marc Mukasey and Torrey Young during his sentencing hearing at the Federal Court in New York March 28, 2024 in this courtroom sketch. ― Reuters picWASHINGTON, March 29 ― Some former FTX customers expressed anger and disappointment yesterday after Sam Bankman-Fried, the crypto exchange's former billionaire boss, was sentenced to 25 years in prison for stealing US$8 billion from customers.
A New York jury last year found Bankman-Fried guilty of stealing from unsuspecting customers to prop up his hedge fund Alameda Research, buy luxury properties and fund political donations. “I found 30-40 to be somewhat fair,” wrote Tristan, another user of the same Telegram group, which has more than 3,000 members who say they have a combined nearly US$700 million in claims.
Mark Bini, a former federal prosecutor, said the judge's sentence took into account the magnitude of the crime and the finding that Bankman-Fried lied on the stand. “I lost my happiness, my ability to get out of bed, my desire to continue living,” wrote one FTX customer who said they had a US$4 million claim. Names were redacted.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: malaymail - 🏆 1. / 86 Read more »
Source: malaymail - 🏆 1. / 86 Read more »
Source: malaymail - 🏆 1. / 86 Read more »
Source: staronline - 🏆 4. / 75 Read more »
Source: malaymail - 🏆 1. / 86 Read more »
Source: malaymail - 🏆 1. / 86 Read more »