FTX Founder Sam Bankman-Fried Found Guilty In Crypto Fraud Case

Sam Bankman-Fried Speaks Out After Sentencing

Sam Bankman-Fried , Speaks Out After Sentencing. The former FTX CEO was sentenced to 25 years in prison on March 28. He was previously convicted of fraud, conspiracy and money laundering. In an exclusive interview with ABC News, the 32-year-old exhibited remorse for his actions, saying, "It's most of what I think about each day.". Bankman-Fried attributed FTX's downfall to many "bad decisions" made in 2022, ABC News reports. . I never thought that what I was doing was illegal. But I tried to hold myself to a high standard, and I certainly didn't meet that standard. , Sam Bankman-Fried, to ABC News. I've heard and seen the despair, frustration and sense of betrayal from thousands of customers; they deserve to be paid in full, at current price, Sam Bankman-Fried, to ABC News. That could and should have happened in November 2022, and it could and should happen today. It's excruciating to see them waiting, day after day, Sam Bankman-Fried, to ABC News. Bankman-Fried went on to say that he's "haunted, every day, by what was lost.". I'd give anything to be able to help repair even part of the damage. I'm doing what I can from prison, but it's deeply frustrating not to be able to do more, Sam Bankman-Fried, to ABC News. Bankman-Fried plans to appeal based on trial testimony that "greatly misstated what actually happened.". I'd give anything to be out there, trying to make a positive difference in the world, but I know that's not going to happen. I can't help from prison, Sam Bankman-Fried, via statement

Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

Sam Bankman-Fried Sentenced to 25 Years for FTX Fraud

Sam Bankman-Fried , Sentenced to 25 Years , for FTX Fraud. On March 28, Sam Bankman-Fried was sentenced to 25 years in prison after being found guilty of defrauding users of FTX, the now-collapsed cryptocurrency exchange. . NBC reports that Lower Manhattan federal district Judge Lewis Kaplan found the defense's arguments misleading, speculative and logically flawed. The judge accused Bankman-Fried of committing obstruction of justice and tampering with witnesses while mounting his defense. Kaplan reportedly said that those factors played a role in his decision about how to sentence Bankman-Fried. Prosecutors had originally sought a longer sentence of 50 years, while the defense fought for Bankman-Fried to get no more than six and a half years. Prosecutors had originally sought a longer sentence of 50 years, while the defense fought for Bankman-Fried to get no more than six and a half years. In November, Bankman-Fried was convicted on seven criminal counts. He has been held at Brooklyn's Metropolitan Detention Center while awaiting sentencing. In November, Bankman-Fried was convicted on seven criminal counts. He has been held at Brooklyn's Metropolitan Detention Center while awaiting sentencing. At one time, FTX was valued at over $30 billion but ultimately collapsed in November of 2022 after announcing a major cash shortfall. At one time, FTX was valued at over $30 billion but ultimately collapsed in November of 2022 after announcing a major cash shortfall. While on trial, Bankman-Fried was accused of robbing FTX customers of nearly $8 billion, which was partially used to fund the extravagant lifestyles of the exchange's executives. While on trial, Bankman-Fried was accused of robbing FTX customers of nearly $8 billion, which was partially used to fund the extravagant lifestyles of the exchange's executives. NBC reports that Bankman-Fried's sentence is harsher than other white-collar crimes in recent memory, such as Theranos founder Elizabeth Holmes who received just 11 years. NBC reports that Bankman-Fried's sentence is harsher than other white-collar crimes in recent memory, such as Theranos founder Elizabeth Holmes who received just 11 years. The outlet also notes that the judgement is more similar to the 25-year sentence given to former WorldCom CEO Bernie Ebbers or the 24-year sentence given to Enron CEO Jeff Skilling. The outlet also notes that the judgement is more similar to the 25-year sentence given to former WorldCom CEO Bernie Ebbers or the 24-year sentence given to Enron CEO Jeff Skilling