BOP experts, the Federal Agency responsible for managing prisoners in US prisons, believe that Bankman-Fried may receive the right to exemption by December 14, 2044. This will reduce Bankman-Fried for four years, appointed to him by the New York court in March 2024. Initially, the prosecutor’s office requested a 50-year term for him and a fine of $ 11 billion.
Former FTX CEO was convicted of seven points of accusation of fraud and conspiracy, as well as in the misuse of client funds through the Alameda Research Cryptocurrency Fund, associated with FTX.
BOP explained that according to federal rules, for good behavior, prisoners in American prisons can earn up to 54 days a year, which can be deducted from the deadline appointed by the court. The time spent in custody before the sentence is taken into account.
Lawyer James Murphy, specializing in cryptocurrencies, added that for participation in approved rehabilitation programs of prisoners, their prison term can also be reduced.
Initially, Bankman-Frida was in the Brooklyn Control Center under the Metropolitan Detention Center (MDC), and then it was transferred to a low-level security FCI Terminal Island in San Pedro, California.
Former CEO of Alameda Research Caroline Ellison, who agreed to cooperate with the prosecutor’s office in the Bankman-Fried case and testified against him, was sentenced to two years in a soft regime prison. If you apply such a scheme to it, Allison may be released in May 2026, they suggested in BOP.
Meanwhile, Bankman-Fried hopes to receive a pardon from US President Donald Trump, who has already released the founder of the Darknet Platform Silk Road Ross Ulbricht.
Source: Bits
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