with conspiracy to commit wire fraud, securities fraud, money laundering, and violations of campaign finance law in December 2022. The then-30-year-old allegedly defrauded millions of investors through FTX from ex-girfriend/co-conspirator Caroline Ellison as well as evasive testimony from Bankman-Fried himself in his own defense — SBF was convicted of the federal charges, which carried a sentence of up to 115 years in prison.
Prior to sentencing, Bankman-Fried addressed the court and said the FTX collapse “haunts him every day.” “A lot of people feel really let down, and they were very let down, and I am sorry about that.” he said. “I am sorry about what happened at every stage. And there are things I should’ve done and things I shouldn’t have.”His lawyer, Marc Mukasey, told the judge, “Sam was not a ruthless financial serial killer who set out every morning to hurt people.
While the U.S.
25-year sentence, adding that Bankman-Fried committed both witness tampering and perjury while on trial. The judge also ordered a forfeiture of $11 billion. Once the third-largest crypto exchange in the world, FTX collapsed days after balance sheets related to Bankman-Fried’s investment firm Alameda Research were leaked. The fallout revealed the extent of the exchange’s financial insolvency, and it led to allegations that Bankman-Fried used investments made by FTX customers to pay off debts and make side investments and contributions, transferring funds without proper disclosure and oversight.
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