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Sam Bankman-Fried sentenced to 25 years for FTX fraud
He was facing a maximum sentence of 110 years.
FTX co-founder Sam Bankman-Fried was sentenced to 300 months, or 25 years, in prison for seven counts of conspiracy and fraud charges stemming from the collapse of the crypto exchange he started. As Bloomberg reports, despite a jump in the value of FTX’s crypto holdings, or its stake in the AI company Anthropic, Kaplan said, “A thief who takes his loot to Las Vegas and successfully bets the stolen money is not entitled to a discount on the sentence by using his Las Vegas winnings to pay back all or part of which he stole when he finally gets caught.” In the cross-examination, Bankman-Fried said he couldn’t recall making certain public statements about the reliability of FTX, so the prosecution played them before the court — repeatedly.
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