Sam Bankman-Fried sentenced to 25 years in prison, judge rips him as power-obsessed scammer
March 28, 2024
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2:32Now PlayingSam Bankman-Fried sentenced to 25 years in prison, judge rips him as power-obsessed scammer
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as posted by the channelA Manhattan judge ripped Sam Bankman-Fried as a “remorseless” scammer obsessed with political power as he sentenced the fallen crypto mogul to 25 years in prison Thursday — five months after he was found guilty of stealing more than $8 billion from customers of his now-bankrupt cryptocurrency exchange FTX.
Judge Lewis Kaplan said the 32-year-old convicted fraudster “presented himself as the good guy” all in favor of “appropriate regulation of the crypto industry” — but it was just an “act.”
“He did it because he wanted to be a hugely, hugely political influential person in this country,” Kaplan said, blasting him as “remorseless.”
“He knew it was wrong, he knew it was criminal, he regrets that he made a very bad bet about the likelihood of being caught,” he continued, as Bankman-Fried stood in front of him with his hands clasped tightly at his waist.
The disgraced crypto king was also ordered to pay more than $11 billion. Kaplan said his forfeited assets can be used to help fund the repayment.
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