A New York court sentenced the founder of the FTX cryptocurrency exchange Sam Bankman-Fried to 25 years in prison for multibillion-dollar fraud, NBC News reports.
According to journalists, initially the prosecutor’s office requested a 50-year sentence, but lawyers insisted on 6.5 years.
The defendant himself made a statement “in an apologetic tone,” noting that he made “selfish decisions.”
The US Attorney’s Office brought formal charges against the founder of the bankrupt FTX crypto exchange, Sam Bankman-Fried, in February 2023. He is charged with actions falling under 12 criminal articles, including fraud and creating a criminal community. Prosecutors said Bankman-Fried conspired with two other former FTX executives to donate tens of millions of dollars to powerful congressmen to pass legislation favorable to the company.
Last August, Bankman-Fried was arrested on charges of witness tampering. On November 3, a US court found him guilty of fraud and conspiracy.
Previously, the founder of FTX was released on bail of $250 million.
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2024-03-29 02:05:26