Sam Bankman-Fried , Sentenced to 25 Years , for FTX Fraud.<br />On March 28, Sam Bankman-Fried was sentenced to <br />25 years in prison after being found guilty of defrauding <br />users of FTX, the now-collapsed cryptocurrency exchange. .<br />NBC reports that Lower Manhattan federal district <br />Judge Lewis Kaplan found the defense's arguments <br />misleading, speculative and logically flawed.<br />The judge accused Bankman-Fried of committing <br />obstruction of justice and tampering with <br />witnesses while mounting his defense.<br />Kaplan reportedly said that those <br />factors played a role in his decision <br />about how to sentence Bankman-Fried.<br />Prosecutors had originally sought a longer sentence <br />of 50 years, while the defense fought for <br />Bankman-Fried to get no more than six and a half years.<br />Prosecutors had originally sought a longer sentence <br />of 50 years, while the defense fought for <br />Bankman-Fried to get no more than six and a half years.<br />In November, Bankman-Fried was convicted on seven <br />criminal counts. He has been held at Brooklyn's <br />Metropolitan Detention Center while awaiting sentencing.<br />In November, Bankman-Fried was convicted on seven <br />criminal counts. He has been held at Brooklyn's <br />Metropolitan Detention Center while awaiting sentencing.<br />At one time, FTX was valued at over $30 billion <br />but ultimately collapsed in November of <br />2022 after announcing a major cash shortfall.<br />At one time, FTX was valued at over $30 billion <br />but ultimately collapsed in November of <br />2022 after announcing a major cash shortfall.<br />While on trial, Bankman-Fried was accused <br />of robbing FTX customers of nearly $8 billion, <br />which was partially used to fund the extravagant <br />lifestyles of the exchange's executives.<br />While on trial, Bankman-Fried was accused <br />of robbing FTX customers of nearly $8 billion, <br />which was partially used to fund the extravagant <br />lifestyles of the exchange's executives.<br />NBC reports that Bankman-Fried's sentence <br />is harsher than other white-collar crimes <br />in recent memory, such as Theranos founder <br />Elizabeth Holmes who received just 11 years.<br />NBC reports that Bankman-Fried's sentence <br />is harsher than other white-collar crimes <br />in recent memory, such as Theranos founder <br />Elizabeth Holmes who received just 11 years.<br />The outlet also notes that the judgement is more <br />similar to the 25-year sentence given to former <br />WorldCom CEO Bernie Ebbers or the 24-year <br />sentence given to Enron CEO Jeff Skilling.<br />The outlet also notes that the judgement is more <br />similar to the 25-year sentence given to former <br />WorldCom CEO Bernie Ebbers or the 24-year <br />sentence given to Enron CEO Jeff Skilling
