FTX Founder Sam Bankman-Fried Sentenced to 25 Years

[BlueWaveNeverEnd]

https://www.msn.com/en-us/money/markets/ftx-founder-sam-bankman-fried-sentenced-to-25-years/ar-BB1kFZub

FTX founder Sam Bankman-Fried was sentenced Thursday to 25 years in prison for what prosecutors called one of the largest financial frauds in U.S. history, capping the onetime crypto king’s meteoric rise and fall.

--------

A jury last year found the 32-year-old guilty of stealing billions of dollars from FTX customers and defrauding investors and lenders to his crypto investment firm Alameda Research.

U.S. District Judge Lewis Kaplan said that in determining the sentence he weighed the brazenness of Bankman-Fried’s actions, his lack of remorse and the possibility he’d commit future crimes. “There is a risk that this man will be in a position to do something very bad in the future,” Kaplan said. “And it’s not a trivial risk at all.”
The judge said Bankman-Fried owes $11 billion in financial penalties, ordering the government to use properties and assets seized from Bankman-Fried to compensate victims.

Bankman-Fried stood stoically as Kaplan handed down the sentence. His mother, grimacing, looked out a courtroom window while his father put his head down in his hands.