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Judge orders Sam Bankman-Fried to 25 years in prison
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Judge Kaplan: It is the judgment of the court that you are sentenced to 240 months then consecutive 60 [etc] for a total of 300 months [25 years]
— Inner City Press (@innercitypress) March 28, 2024
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BANKMAN-FRIED ORDERED TO FORFEIT MORE THAN $11 BILLION
— *Walter Bloomberg (@DeItaone) March 28, 2024
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Sam Bankman-Fried: Disgraced 'crypto king' jailed for 25 years after stealing billions of dollars from FTX customers
Disgraced crypto entrepreneur Sam Bankman-Fried has been sentenced to 25 years in prison after being convicted of stealing billions of dollars from his customers. He was the chief executive of FTX, which suddenly went bankrupt in November 2022 - leaving millions of users frozen out of their accounts and unable to make withdrawals. The 32-year-old could have faced up to 100 years behind bars - but last month, his lawyers argued such a sentence would have been "barbaric" and a five-year term would be more appropriate. Prosecutors had asked the judge to jail Bankman-Fried for 40 to 50 years, arguing the public need ... (full story)