Disgraced cryptocurrency conman Sam Bankman-Fried was sentenced Thursday to 25 years in prison for orchestrating one of the biggest financial fraud schemes in American history.

Manhattan Judge Lewis Kaplan handed down Bankman-Fried’s sentence for stealing over $8 billion of customer funds from bankrupt crypto exchange FTX. Federal prosecutors sought at least 40 years in prison for Bankman-Fried for perpetrating the FTX scam against the company’s customers and investors, and investors in sister hedge fund Alameda research.

The defendant’s attorneys asked for a five-to-seven-year sentence, citing their client’s autism as an extenuating circumstance.

Bankman-Fried was convicted on seven criminal fraud counts last year after a month-long trial where prosecutors argued that he misused customer funds to cover losses at Alameda research and fund his lavish spending spree.

Breaking-News2.png
hero news image

Disgraced Crypto Fraudster Sam Bankman-Fried Sentenced to 25 Years in Prison

The defendant’s attorneys asked for a five-to-seven-year sentence, citing their client’s ... READ MORE

ADVERTISEMENT

national review

Follow Us & Share

19 West 44th Street, Suite 1701,
New York, NY, 10036, USA
Your Preferences | Unsubscribe | Privacy
View this e-mail in your browser.