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From | To | Subject | Date/Time | |||
VRSS | All | Sam Bankman-Fried Sentenced To 25 Years in Prison |
March 28, 2024 11:00 AM |
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Feed: Slashdot Feed Link: https://slashdot.org/ --- Title: Sam Bankman-Fried Sentenced To 25 Years in Prison Link: https://yro.slashdot.org/story/24/03/28/15522... Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years [non- paywalled link] in prison for a massive fraud that unraveled with the collapse of FTX, once one of the world's most popular platforms for exchanging digital currency. From a report: Bankman-Fried, 32, was convicted in November of fraud and conspiracy -- a dramatic fall from a crest of success. U.S. District Judge Lewis A. Kaplan imposed the sentence in the same Manhattan courtroom where, four months ago, Bankman-Fried testified that his intention had been to revolutionize the emerging cryptocurrency market with his innovative and altruistic ideas, not to steal. Kaplan said the sentence reflected "that there is a risk that this man will be in position to do something very bad in the future. And it's not a trivial risk at all." He added that it was "for the purpose of disabling him to the extent that can appropriately be done for a significant period of time." Prior to sentencing, Bankman-Fried had said, "My useful life is probably over. It's been over for a while now, from before my arrest." Read more of this story at Slashdot. --- VRSS v2.1.180528 |
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