Former FTX chief Sam Bankman-Fried could face a prison term of 40 to 50 years
Federal prosecutors have taken a firm stance on the sentencing of Sam Bankman-Fried, the former cryptocurrency mogul found guilty of fraud and conspiracy. The rise and fall of a crypto empire
The narrative of Sam Bankman-Fried's ascent to the pinnacle of the crypto industry and his subsequent fall has been nothing short of dramatic. As the founder of FTX, Bankman-Fried was at the helm of a $40 billion enterprise until it crumbled. The conviction, resulting from the jury's decision in November, was for the embezzlement of $8 billion from customers to fund various personal and political interests. has been a pivotal event in the cryptocurrency domain, but the industry managed to bounce back from this disaster. Against the backdrop of severe sentencing proposals, Bankman-Fried's legal team has mounted an appeal for clemency.
Portraying the convicted as a non-violent, first-time offender, the defense has suggested a prison sentence ranging from five and a half to six and a half years. The defense asserts that customers stand to recover their full investments, mitigating the perceived harm and bolstering their case for a reduced sentence.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Monica Sementilli and Robert Baker jail love affair reveals evidence of murder conspiracy, say prosecutorsIntercepted love letters and surreptitious recordings between Monica Sementilli and Robert Baker allegedly reveal secrecy pact, coded language and sex games inside jail.
Baca lebih lajut »
Prosecutors says recorded jail calls show accused quadruple murderer scheming defenseOn Thursday, the prosecution in the quadruple murder trial against Maleke Pate, played recordings investigators say show Pate scheming a defense strategy.
Baca lebih lajut »
Santa Rita Jail murder case testimony raises questions about safety at county’s lone adult jailTwo cellmates were heard fighting by the man in the adjacent cell for at least a half-hour, before one of them allegedly strangled the other to death.
Baca lebih lajut »
Woman accused of killing 5-year-old Darnell Taylor in jail in Cuyahoga CountyA Columbus woman accused of kidnapping and killing a little boy who was the subject of a statewide AMBER Alert is in jail, authorities have confirmed.
Baca lebih lajut »
Ohio woman accused of killing 5-year-old foster son in jailAn Ohio woman accused of kidnapping and killing her 5-year-old foster son, who was the subject of a statewide AMBER Alert, is in jail, authorities confirmed.
Baca lebih lajut »
Woman accused of killing 5-year-old Darnell Taylor booked in jail on multiple chargesA Columbus woman accused of kidnapping and killing a little boy who was the subject of a statewide AMBER Alert is in jail, authorities have confirmed.
Baca lebih lajut »