Rob Wile is a breaking business news reporter for NBC News Digital.
Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in defrauding users of the collapsed cryptocurrency exchange FTX. In a federal courtroom in lower Manhattan, U.S. District Judge Lewis Kaplan called the defense argument misleading, logically flawed and speculative. He said Bankman-Fried had obstructed justice and tampered with witnesses in mounting his defense — something Kaplan said he weighed in his sentencing decision.
I did not agree to the risk that SBF took with my funds.” The man added he was suffering from depression and that his wife had become suicidal. “I know we can never make that kind of money back ever again,” he wrote. Another person wrote about how the loss of funds had affected numerous life plans, including a wedding. “Each passing day is a painful reminder of the opportunities stolen from me, compounding feelings of hopelessness and despair,' the person wrote.
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FTX Founder Sam Bankman-Fried Sentenced to 40-50 Years in Prison for $8 Billion TheftSam Bankman-Fried, the founder of FTX cryptocurrency exchange, has been convicted of stealing $8 billion from customers and has been sentenced to 40 to 50 years in prison. Prosecutors stated that Bankman-Fried defrauded investors, customers, and lenders during the collapse of his crypto empire. Despite the conviction, Bankman-Fried refuses to admit his wrongdoing. His lawyers argue for a prison term of 5¼ to 6½ years.
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Prosecutors Ask Judge to Sentence FTX Founder Sam Bankman-Fried to 40-50 YearsAttorneys for Bankman-Fried, meanwhile, say he should get no more than six-and-a-half years behind bars for stealing $8 billion from his customers.
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Sam Bankman-Fried Sentencing: FTX Founder Gets 25 Years in JailThe sentencing comes after a high-profile trial where Bankman-Fried was found guilty of fraud, conspiracy, among other charges.
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FTX Crypto Fraudster Sam Bankman-Fried Sentenced to 25 Years in PrisonThe former billionaire was convicted on all seven counts in November.
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Sam Bankman-Fried Sentenced to 25 Years in Prison in FTX Fraud TrialSam Bankman-Fried has been sentenced to 25 years in prison after he was found guilty of federal fraud charges in connection to the demise of FTX.
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Disgraced former FTX CEO Sam Bankman-Fried sentenced to 25 years for financial fraudBankman-Fried, 32, of Stanford, California, was convicted last November of two counts of wire fraud conspiracy, two counts of wire fraud and one count of conspiracy to commit money laundering.
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