Sam Bankman-Fried sentenced to 25 years in prison

by | Mar 28, 2024

U.S. District Judge Kaplan sentenced Sam Bankman-Fried to a 25 year prison sentence on Thursday, for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange.

After rejecting Bankman-Fried's claim that FTX customers did not actually lose money and claiming that he had been lying during his trial testimony, Judge Kaplan delivered the sentence at a Manhattan court hearing.

A jury found Bankman-Fried guilty this past November on seven counts of fraud and conspiracy stemming from FTX's collapse in 2022, which has been deemed one of the largest financial frauds in U.S. history.

Source: Reuters

 

 

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