FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer

BusinessFILE - FTX founder Sam Bankman-Fried leaves Manhattan federal court, June 15, 2023, in New York. The chief executive of the cryptocurrency company Sam Bankman-Fried founded attacked the onetime crypto power player on Wednesday, March 20, 2024, in a letter to a federal judge scheduled to sentence him next week, saying his claim that customers, lenders and investors were not harmed was callously false and he was living a life of delusion.

“As the lead professional of a very large team who has spent over a year stewarding the estate from a metaphorical dumpster fire to a debtor-in possession approaching a confirmed plan of reorganization that will return substantial value to creditors, I can assure the Court that each of these statements is categorically, callously, and demonstrably false,” Ray said.

Bankman-Fried's lawyer has requested a prison term in the single digits, relying in part on claims that those who lost money will be reimbursed. The victims also will not get back money that can't be recovered, like $150 million in bribes that prosecutors say were paid to Chinese government officials or nearly 100,000 bitcoins listed on customer statements even though only 105 bitcoins were left on the FTX.com exchange, he said.

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