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Message   VRSS    All   Sam Bankman-Fried Sentenced To 25 Years in Prison   March 28, 2024
 11:00 AM  

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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.

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