SBF sentencing live updates: FTX founder in New York federal court

He was convicted in November on seven counts against him tied to the collapse of his crypto exchange and a related hedge fund.His defense team has suggested a sentence of much less than that, of between five to six-a-half years behind bars, from Judge Lewis Kaplan.Federal prosecutors want Bankman-Fried sentenced to between 40 to 50 years in prison.

Kaplan presided over the trial, which ended in November when a jury found Bankman-Fried, 32, guilty of seven counts and held him responsible for The charges included wire fraud and conspiracy to commit wire fraud against FTX customers and against lenders to sister hedge fund Alameda Research; conspiracy to commit securities fraud and conspiracy to commit commodities fraud against FTX investors; and conspiracy to commit money laundering.

FTX's former CEO and founder Sam Bankman-Fried's mother, Barbara Fried , and his father, Joseph Bankman, arrive at Manhattan Federal Court for his sentencing at Manhattan Federal Court in New York City on March 28, 2024.steep and swift fall from grace for Bankman-Fried, who was once hailed as a titan in the industry and grew his crypto empire — on paper — to a $32 billion valuation.

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