The former billionaire was convicted on all seven counts in November.
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.
With palpable exasperation, Kaplan said that Bankman-Fried continued to offer a distorted version of reality in an effort to diminish his culpability. Bankman-Fried claimed he wanted to lawfully improve the world, while in private he made disparaging remarks about authorities, Kaplan emphasized. He pointed to anIn a meandering speech on Thursday, Bankman-Friedman said he was sorry for the company’s demise and noted that, as chief executive, the blame ultimately rested on his shoulders.
The jury evidently did not find him believable and convicted him on all seven counts in a matter of hours. They noted that Bankman-Fried’s companies were enormously lucrative and “could have been successful without fraud.” Nevertheless, they continued, he “chose to abandon honest work to pursue profit and influence through crime, and he used the proceeds of those crimes to enjoy his own lifestyle of affluence.”. (Neither parent has been charged with a crime, though both were involved in elements of Bankman-Fried’s operations.
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