Lawyers for FTX founder Sam Bankman-Fried (SBF) said they disagree with the U.S. Attorney's Office's view that their client should be sentenced to 50 years in prison. According to him, such calls “distort reality and portray him as a supervillain,” reports Bloomberg.
Let us remind you that in March 2024, prosecutors requested 40 to 50 years in prison for Bankman-Fried. This is stated in the memo submitted to the court.
Prosecutors argued that the above-mentioned sentence was necessary because SBF's actions led to the collapse of the exchange and losses of more than $10 million.
Prosecutors said Bankman-Fried “displayed unparalleled greed and broke the law motivated by self-defeating delusions of grandeur, his own values and a sense of superiority.”
It should be noted that only on the basis of the totality of charges from the US Department of Justice, the founder of FTX faces up to 115 years in prison. At the same time, a recent request from the prosecutor’s office referred to imprisonment for a term of 40 to 50 years.
SBF lawyers disagreed with the government's opinion. They called such statements alarming and untrue:
In November 2023, the court found Sam Bankman-Fried guilty on several counts. The former CEO of FTX was accused of fraud, asset fraud and money laundering.
The final verdict is expected to be announced on March 28, 2024. Some experts believe that even in the best case scenario, the former head of FTX faces decades in prison.
Source: Cryptocurrency
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