Crypto King Sam Bankman-Fried jailed for 25 years

He was found guilty last year on all seven charges of wire fraud and conspiracy.

In Summary
  • After the sentence was read out to the court, Judge Kaplan asked SBF if he would like to be read the conditions.
  • The 32-year-old simply replied, "no thanks".
Sam Bankman-Fried
Sam Bankman-Fried

Sam Bankman-Fried has been sentenced to 25 years in prison.

After the sentence was read out to the court, Judge Kaplan asked SBF if he would like to be read the conditions.

The 32-year-old simply replied, "no thanks".

The prison sentence is not at the upper end of what prosecutors had asked for (they pushed for as much as 50 years), but it certainly is not what SBF's legal team were hoping for (they proposed five to 6.5 years).

While arguing for leniency ahead of his sentencing, SBF's defence lawyer, Marc Mukasey, painted his client as an "awkward math nerd", telling the court he was not "a ruthless financial serial killer"

Sam Bankman-Fried then took the stand and admitted to making a "series of bad decisions" that "haunts" him every day - but he stopped short of offering a full apology

The defence team maintained that SBF could've resolved the issues at FTX had he been given more time

But Judge Lewis Kaplan rejected these claims, saying it was "misleading" and "logically flawed" for them to say that FTX customers had not lost anything because they would soon be paid in full

Judge Kaplan gave a harsh assessment of SBF's lack of remorse ahead of handing down the 25-year sentence, saying he had never said "a word of remorse for the commission of terrible crimes"

A customer who lost $2.1m (£1.7m) in the collapse also told the courtroom how he lives "the FTX nightmare everyday"

SBF was found guilty last year on all seven charges of wire fraud and conspiracy

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