Crypto-scammer Sam Bankman-Fried might be disappearing for a long, long period of time.
Prosecutors are advising a 40 to 50 year sentence for the FTX creator who bilked financiers out of billions of dollars. Individuals have actually hypothesized that he may leave with little to no prison time due to his political contributions, which went extremely to Democrats.
Now he is taking a look at half a century behind bars.
The FOX Business Network reports:
Prosecutors desire a 40- to 50- year jail sentence for Sam Bankman-Fried
Sam Bankman-Fried must invest 40 to 50 years in jail after being founded guilty of taking $8 billion from clients of his now-bankrupt FTX cryptocurrency exchange, district attorneys stated Friday.
The FTX creator was condemned on all charges in November associated to the collapse of his cryptocurrency exchange in the very first of 2 criminal trials versus the previous CEO.
A jury in a Manhattan federal court concurred with district attorneys that Bankman-Fried defrauded financiers, consumers and loan providers throughout the collapse of his crypto empire.
” Even now, Bankman-Fried declines to confess what he did was incorrect,” district attorneys composed in a sentencing memorandum. “His life over the last few years has actually been among unequaled greed and hubris; of aspiration and justification; and courting threat and gaming consistently with other individuals’s cash.” …
Prosecutors implicated Bankman-Fried, who established and managed both FTX and sis hedge fund Alameda Research, of misusing and embezzling billions of dollars in FTX client deposits, computing to misinform financiers and advising other executives at his companies to do the very same.
These district attorneys are not messing around.
NEW– The sentencing memo from the federal government versus Sam Bankman-Fried simply dropped.
They desire him to disappear to jail for 40 to 50 years. https://t.co/EUIGAt3lxi pic.twitter.com/kIwGJUyVEt
— Teddy Schleifer (@teddyschleifer) March 15, 2024
His defense desired a sentence of just 6 years. Not going to take place.
Federal district attorneys argued in their Sentencing Memorandum that Sam Bankman-Fried ought to invest 40 to 50 years in jail for the FTX scams, pressing back versus a demand by defense counsel for a sentence of approximately 6 years.
The Sentencing Memorandum stated Bankman-Fried must be … pic.twitter.com/37 j6eYHxhE
— John Reed Stark (@JohnReedStark) March 16, 2024
He will likely be a much older guy by the time he leaves jail.
The post Prosecutors Recommend 40 to 50 Year Prison Sentence for Crypto-Scammer Sam Bankman-Fried appeared initially on The Gateway Pundit
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