Sam Bankman-Fried acknowledged during 20 minutes of remarks to the judge that FTX customers had suffered and he offered an apology to his former colleagues.
The sentence marked the culmination of Bankman-Fried’s plunge from an ultra-wealthy entrepreneur and major political donor to the biggest trophy to date in a crackdown by US authorities on malfeasance in cryptocurrency markets. Federal prosecutors had sought a sentence of 40 to 50 years. Mukasey had argued for a sentence of less than 5-1/4 years.Addressing the judge, Bankman-Fried said, “Customers have been suffering ... I didn’t at all mean to minimise that. I also think that’s something that was missing from what I’ve said over the course of this process, and I’m sorry for that.”
Mukasey sought to distance Bankman-Fried from notorious fraudsters like Bernie Madoff, saying he was “not a ruthless financial serial killer” but rather an “awkward math nerd” who tried to get customers their money back after FTX’s collapse.
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