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Lawyers for FTX founder Sam Bankman-Fried on Tuesday suggested to a U.S. judge that sentence ranging between 63 and 78 months would be an appropriate punishment for his conviction on charges of stealing $8 billion from customers of his now-bankrupt cryptocurrency exchange.
Lawyers for Sam Bankman-Fried told a US judge on Tuesday that a sentence ranging from 63 to 78 months would be an appropriate punishment for the FTX founder's conviction for stealing $8 billion from customers of the bankrupt cryptocurrency exchange.
Sam Bankman-Fried's lawyer said Tuesday that a suggested 100-year prison sentence for the FTX founder by an arm of the court is “grotesque” and “barbaric” and at most a term of a few years behind bars is appropriate for cryptocurrency crimes that the California man still disputes. In presentence arguments filed just minutes before a late Tuesday deadline in Manhattan federal court, attorney Marc Mukasey said a report by Probation officers improperly calculated federal sentencing guidelines to recommend a sentence just 10 years short of the maximum potential 110-year sentence.
His lawyers argued for 63 to 78 months in jail, citing medical conditions, including autism, and his intentions to better the world with his now-fallen crypto exchange.
Since the disgraced cryptocurrency mogul was convicted of fraud last year, his supporters have maneuvered to secure a lenient sentence and change the public narrative about his case.
Sam Bankman-Fried, the jailed founder of bankrupt cryptocurrency exchange FTX, appeared in court on Wednesday for the first time since his November fraud conviction and confirmed he wanted to stick with new lawyers despite a possible conflict of interest.
By the time the FBI raided Robert Powell’s luxurious Highland Park home three years ago, what agents saw as the red flags of fraud were everywhere. The 23-year-old Powell was living alone on the North Shore despite having no legitimate income, according to federal court records obtained by the Tribune. He had a $150,000 BMW in the garage but rarely went out. One day, a letter carrier found six ...