US prosecutors have requested that a court sentence disgraced crypto mogul Sam Bankman-Fried to between 40 and 50 years imprisonment for massive fraud that cost customers $8 billion, court documents showed Friday. 'A sentence of 40 to 50 years' imprisonment...
Sam Bankman-Fried admitted during trial he had made 'mistakes' but denied that he had ever tried to defraud anyone. Photo: Ed JONES / AFP/Filemogul Sam Bankman-Fried to between 40 and 50 years imprisonment for massive fraud that cost customers $8 billion, court documents showed Friday.
"A sentence of 40 to 50 years' imprisonment... is necessary to reflect the seriousness of the defendant's crimes," the prosecution's sentencing memorandum said.Prosecutor Damian Williams said following the verdict that Bankman-Fried"perpetrated one of the biggest financial frauds in American history, a multibillion-dollar scheme designed to make him the king of crypto.
Some of his closest associates testified during the trial that he was key to all the decisions that saw $8 billion vanish from his FTX trading platform.
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