FTX fraudster Sam Bankman-Fried sentenced to 25 years in jail

FTX Founder Sam Bankman-Fried arrives at court, surrounded by photographers and other people. One man appears to be holding Bankman-Fried around the torso and escorting him.

Enlarge / FTX Founder Sam Bankman-Fried arrives at US District Courtroom on March 30, 2023, in New York Metropolis after being hit with a felony cost for allegedly authorizing a bribe of at the least $40 million to a number of Chinese language authorities officers. (credit score: Getty Pictures | Michael Santiago )

Convicted FTX fraudster Sam Bankman-Fried was sentenced to 25 years in jail right this moment, in keeping with information studies.

The founder and ex-CEO of cryptocurrency alternate FTX was sentenced this morning by Decide Lewis Kaplan in US District Courtroom for the Southern District of New York. Bankman-Fried had requested a sentence of 63 to 78 months (5.25 to six.5 years), arguing that he deserved leniency due to his “charitable works and demonstrated dedication to others.”

Kaplan additionally reportedly ordered a forfeiture of $11.2 billion however stated there will likely be no precise restitution as a result of it could be “impractical.”

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