- Sam Bankman-Fried has actually been sentenced to 25 years in jail.
- FTX imploded in November 2022, with consumers losing billions of dollars in properties.
Sam Bankman-Fried, the creator and previous CEO of collapsed crypto exchange FTXhas actually been sentenced to 25 years in jail.
FTX imploded and filed for insolvency in November 2022. Sam Bankman-Fried has actually remained in prison waiting for sentence because being condemned of scams in 2015.
SBF gets 25 years in jail for scams
United States District Judge Lewis Kaplan sent out Bankman-Fried to jail for less than what district attorneys had actually requested for. The sentencing has actually provided a prompt pointer to crypto employers after the FTX death resounded throughout the market in 2022.
The sentencing on Thursday marks the end of one of the most significant scams associated cases in the world, with 32-year old Bankman-Fried at the. He was likewise purchased to surrender more than $11 billion in residential or commercial property.
BREAKING Disgraced FTX creator Sam Bankman-Fried has actually been sentenced to 25 years in jail
+Ordered surrender more than $11 billion pic.twitter.com/JwOtDYODFg
— Bitcoin Archive (@BTC_Archive) March 28, 2024
The previous FTX chief excused his actions in quick remarks before the judge’s sentence. His claim that FTX clients will be made entire did not sit well with the judge.
The accused’s assertion that FTX consumers and lenders will be paid completely is misinforming, it is realistically flawed, it is speculative,Judge Kaplan kept in mind.