Kaplan said Bankman-Fried had obstructed justice and tampered with witnesses in mounting his defense — something Kaplan said he weighed in his sentencing decision. After a two-hour hearing, Justice Lewis Kaplan said Bankman-Fried knew what he was doing was criminal and regretted making a bad bet about the likelihood of being caught.
” Bankman-Fried, however, told the court that FTX had the ability to repay customers when it collapsed. The prosecutors said Bankman-Fried took more than $10bn from unsuspecting customers in “one of the biggest financial frauds” in US history. FTX was valued at $32bn before it went bankrupt in 2022 and SBF crafted a public image that drew in celebrities, politicians and business titans.
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