CryptoIntelligence 2024-03-18 07:07:29

Prosecutors Seek 40–50 Years for FTX Founder Sam Bankman-Fried Amid Fraud Conviction, Comparing Him to Bernie Madoff

Prosecutors are advocating for a substantial prison sentence for Sam Bankman-Fried, the ex-CEO of the now-defunct cryptocurrency exchange FTX, after his conviction on fraud charges. They propose a term of 40–50 years, in contrast to Bankman-Fried’s defense team requesting a maximum of six and a half years. Bankman-Fried, who could face a maximum of 110 years, was found guilty on multiple charges, including wire fraud, securities fraud, and money laundering conspiracy, on November 2, 2023. The government’s 116-page sentencing memorandum, delivered to Judge Lewis Kaplan on March 15, offers a thorough account of Bankman-Fried’s illegal activities. The document emphasizes his

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Prosecutors Seek 40–50 Years for FTX Founder Sam Bankman-Fried Amid Fraud Conviction, Comparing Him to Bernie Madoff

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