FTX founder Sam Bankman-Fried goes away for a very long time … the choose hit him with a 25-year sentence for scamming prospects and buyers in his federal cryptocurrency fraud case.
Choose Lewis Kaplan handed down the hefty sentence Thursday in Manhattan, and though he did not order restitution — as a result of giant variety of victims impacted by SBF’s biz — the choose did order a forfeiture of greater than $11 billion.
Explaining the prolonged sentence and effective, Choose Kaplan mentioned … “This man will probably be able to do one thing very unhealthy sooner or later, and it’s not a trivial danger.”
The sentencing comes 4 months after Sam was discovered responsible of seven counts of fraud, cash laundering and conspiracy.
Bear in mind, SBF was accused of taking billions of {dollars} in FTX buyer deposits for his personal use.
The choose advisable Sam be despatched to a medium-security or a lower-security jail close to San Francisco so the disgraced businessman’s household can go to him behind bars.
So, excellent news/unhealthy information for Sam.
