SBF appeals 25-year prison sentence
FTX founder SBF filed an appeal on April 11th against his 25-year prison sentence. In November of last year, a Manhattan federal court jury found SBF guilty of seven counts of fraud and conspiracy, including one related to FTX's collapse in 2022. Prosecutors said the case was one of the largest financial fraud cases in US history. Earlier, federal prosecutors had recommended that SBF be sentenced to 40 to 50 years in prison. US District Judge Lewis Kaplan sentenced SBF to 25 years in prison on March 28th of this year.
FTX Founder Sam Bankman-Fried Sentenced to 25 Years in Prison, Judge Criticizes Performance on Stand
Former FTX CEO Sam Bankman-Fried received a 25-year prison sentence last month, following a two-hour sentencing hearing that included statements from various parties. During the hearing, Bankman-Fried expressed regret for his actions and suggested wrongdoing by current FTX CEO John J. Ray III and the bankrupt exchange's cleanup crew. However, the judge disagreed with the defense's objections to sentencing guidelines and handed down a baseline sentence of 110 years. Bankman-Fried's legal team plans to appeal the sentence, but it may be difficult to succeed. Other news includes fraud charges against Do Kwon and Terraform Labs, optimism about stablecoin legislation from Congressman McHenry, and a Binance executive facing charges of tax evasion and money laundering in Nigeria.
In his first interview since being imprisoned, SBF said: Every day he is troubled by what he has lost.
SBF gave his first interview to ABC News after being imprisoned. SBF stated that he is troubled every day by what he has lost. He never intended to harm anyone or take anyone's money, but he is the CEO of FTX and takes responsibility for what has happened to the company. When you are responsible, it doesn't matter why things have gone wrong. He is willing to pay any price to help repair even a portion of the damage. He is doing everything he can while in prison, but it is frustrating that he cannot do more. He has heard and seen the despair, frustration, and feeling of betrayal from thousands of customers who deserve to be paid in full based on current prices.
SBF ordered to forfeit more than $11 billion
SBF has been ordered to confiscate more than 11 billion US dollars. SBF has now been sentenced to 25 years in prison.
Prosecutor: SBF must sentence at least 40 years in prison, otherwise he will reoffend
The prosecutor stated at the SBF sentencing hearing that it is necessary to sentence SBF to at least 40 years in prison so that he will not commit any more crimes. SBF committed serious crimes and hurt many people, and he may consider committing them again. Therefore, the sentence should be between 40 and 50 years.
Judge finds SBF attempted to tamper with witnesses and gave perjury at trial
According to The Block Pro, the judge found that SBF attempted to tamper with witnesses and provide false testimony during the trial.
SBF has appeared in New York court to receive sentencing in the FTX fraud case
It was reported that SBF, the founder of bankrupt cryptocurrency exchange FTX, appeared in a New York court to receive the verdict on the FTX fraud case. It is said that the verdict will begin at 9:30 pm Beijing time on March 28th.
SBF: 50 years in prison is equivalent to a death sentence
According to Fortune magazine, Sam Bankman-Fried argued that being sentenced to 50 years in prison in the FTX case is equivalent to a death sentence. SBF's lawyer, Mark Mukasey, condemned federal prosecutors in a letter to Judge Lewis Kaplan for unfairly portraying SBF as a "fallen super villain" and added that "SBF has lost everything."
U.S. prosecutors urge judge to sentence SBF to 40-50 years in prison for fraud
According to market news reported, court documents revealed that US prosecutors urged the judge to sentence SBF to 40-50 years imprisonment for FTX fraud.
Letter Urges Judge to Deny Leniency Plea for FTX Co-Founder Sam Bankman-Fried
A letter has been filed in court urging Judge Kaplan to deny leniency pleas for FTX co-founder Sam Bankman-Fried, despite appeals from his family and friends. The letter, written by a member of the CBOE for a market maker firm, criticizes those arguing for leniency based on the idea that account holders will be made whole, calling it "intellectual dishonesty." The writer claims that SBF's charges are equivalent to stealing money and repaying some of the funds, and asks the judge to consider the expected value of accounts and people who lost their assets. SBF's lawyers have requested a reduction in his prison sentence to less than 7 years, citing his "neurodiversity," selflessness, and kindness.
