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Sam Bankman-Fried sentenced to 25 years for FTX fraud

The Verge · 1y

FTX co-founder Sam Bankman-Fried has been sentenced to 25 years in prison for conspiracy and fraud charges related to the collapse of the crypto exchange. The judge ordered Bankman-Fried to forfeit over $11 billion. The sentence is shorter than what prosecutors requested but longer than what the defense asked for. During the trial, it was revealed that Bankman-Fried knew about the risks and misused customer funds. The judge also found him guilty of tampering with witnesses and providing false testimony. Bankman-Fried, who has been in custody since violating his bail conditions, is said to be having a difficult time in jail.