- The federal prosecutors argue that Sam Bankman-Fried deserves 40-50 years of imprisonment.
- Though Bankman-Fried’s lawyers, family, and friends requested mercy, the prosecutors advocated for a severe punishment.
- Judge Kaplan is scheduled to sentence Bankman-Fried on March 28, 2024.
In a recent development in the lawsuit involving Sam-Bankman Fried, the ill-famed founder of the defunct crypto exchange FTX, the federal prosecutors claimed that the defendant deserves 40-50 years of prison sentence.
Following the collapse of FTX, Bankman-Fried was found guilty of seven charges, including conspiracy and fraud. At the time, US attorney Damian Williams addressed Bankman-Fried’s crime as one of the “biggest financial frauds in American history.”
While his total charges could result in an imprisonment of 115 years, his lawyers requested the court to limit his punishment to a maximum of 6.5 years. In addition, his family and friends pleaded with the court to consider Bankman-Fried’s psychiatric conditions to lessen his sentence period.
While psychiatrist George Lerner recognized Bankman-Fried…
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