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Sam Bankman-Fried gets 25 years in prison for fraud and money laundering at FTX, ordered to pay $11B in forfeiture
Sam Bankman-Fried, the co-founder and former CEO of crypto exchange FTX and trading firm Alameda Research, was sentenced to 25 years in prison by Southern
Sam Bankman-Fried, the co-founder and former CEO of crypto exchange FTX and trading firm Alameda Research, was sentenced to 25 years in prison by Southern District of New York (SDNY) Judge Lewis Kaplan, about five months after he was found guilty on all seven counts related to fraud and money laundering during his trial. As Judge Kaplan is required to consider the “need for the sentence to afford adequate deterrence,” aka to discourage other white collar defendants and for bad actors in the crypto space more generally, Josh Naftalis, a former federal prosecutor now with Pallas Partners in New York, told TechCrunch. Before prison, Bankman-Fried was once on top of the crypto world, hanging with celebrities like Katy Perry and trophy-winning athletes like Tom Brady and putting his company name on major league baseball referees’ shirts and the Miami Heat arena.
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