Sam Bankman-Fried Sentenced to 25 Years in Prison
A jury previously found Sam Bankman-Fried guilty of fraud and money laundering.
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A jury previously found Sam Bankman-Fried guilty of fraud and money laundering.
Prosecutors recommended a prison sentence of 40 to 50 years after Bankman-Fried was convicted of fraud and conspiracy.
Crypto entrepreneur Sam Bankman-Fried was sentenced to 25 years in prison for a massive fraud that unraveled with the collapse of FTX.
FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison for a cryptocurrency fraud that a prosecutor has described as one of the biggest financial frauds in U.S. history.
Photo Illustration by Luis G. Rendon/The Daily Beast/Getty ImagesU.S. District Judge Lewis Kaplan tore into FTX founder Sam Bankman-Fried during his sentencing hearing on Thursday, blasting the convicted fraudster as a remorseless, serial liar who had perjured himself on the stand and attempted to commit witness tampering. Kaplan then sentenced Bankman-Fried to 25 years in prison, capping a stunning downfall for the former public face of crypto.Bankman-Fried, who was convicted on seven fraud and