FTX founder Bankman-Fried sentenced to 25 years in prison for crypto fraud
The 32-year-old was found guilty of using investors’ money to buy luxury properties and bribe officials in foreign countries.
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The 32-year-old was found guilty of using investors’ money to buy luxury properties and bribe officials in foreign countries.
Former crypto mogul Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in the 2022 collapse of FTX, which once was one of the world's most popular platforms for trading digital currency.
The 32-year-old faces up to 50 years behind bars for illegally using money from FTX depositors to cover his expenses.
Bankman-Fried, once the darling of the crypto world, was convicted last year of defrauding his investors at one of the larges digital currency companies in the U.S.
Crypto entrepreneur Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for billion-dollar fraud that unravelled with the collapse of FTX, once one of the world's most popular platforms for exchanging digital currency.