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Prosecutors want a 40- to 50-year prison sentence for Sam Bankman-Fried

Posted on AllSides March 16th, 2024
From The Right
Jane Rosenberg / Fox News

Sam Bankman-Fried should spend 40 to 50 years in prison after being convicted of stealing $8 billion from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said Friday.

The FTX founder was found guilty on all charges in November related to the collapse of his cryptocurrency exchange in the first of two criminal trials against the former CEO.

A jury in a Manhattan federal court agreed with prosecutors that Bankman-Fried defrauded investors, customers and lenders during the collapse of his crypto empire. 

"Even now, Bankman-Fried refuses to admit what he did was wrong," prosecutors...

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