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47 Comments
Only 20 years? All that money donated to politicians must have paid off.
That sentence should be way higher. Insane.
tldr; Sam Bankman-Fried was sentenced to 20 years in prison for defrauding users of the cryptocurrency exchange FTX. In a Manhattan federal courtroom, Judge Lewis Kaplan criticized the defense’s arguments and highlighted Bankman-Fried’s obstruction of justice and witness tampering. Bankman-Fried, who had been convicted on seven criminal counts, apologized for his actions. Prosecutors had sought up to 50 years, while his lawyers requested no more than 6½ years, citing mental health issues and his generosity. However, the extent of the victims’ losses and Bankman-Fried’s lack of remorse influenced the decision for a harsher sentence. Victims shared the devastating impact of their losses, including financial ruin and emotional distress. Bankman-Fried’s sentence is notable compared to other white-collar crimes, with FTX once valued at over $30 billion. He plans to appeal his conviction.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Next should be Do Kwon!.. Luna fiasco was way worse, it ruined people’s lives, at least FTX clients could potentially recover some of the money, not Luna holders
And CNN says it’s 25 years. Which is it??
[https://www.cnn.com/business/live-news/sam-bankman-fried-sentencing-03-28-24/index.html](https://www.cnn.com/business/live-news/sam-bankman-fried-sentencing-03-28-24/index.html)
CNN and WSJ are both reporting 25 years. I only see NBC and affiliates reporting a 20 year sentence. Which is correct?
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Edit: NBC just edited headline to 25 years. Their reporters/editors didn’t understand the meaning of consecutive.
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Edit 2: For all the comments saying he’ll only serve 5 or half of his sentence, how are so many of you so misinformed and yet have such strong opinions about things you don’t understand? The federal prison system does not have parole and only allows early release after at least 85% of your sentence has been served. He’ll get out after 21 years at the earliest. And 25 years is a significantly stronger sentence than most other countries would have given if you compare similar sentences to similar crimes in those countries (e.g. he wouldn’t be given anywhere near 25 years in a EU country). And I see no evidence that he received special treatment because of wealth or family connections. This sentence is in line with similar situations. Unfortunately, I have seen some comments (some deleted or removed) that are pure conspiracy theory and blatant antisemitism.
Ya. When you take into account the scale of what he took from the amount of people…..public hanging probably fits the crime.
Pretty light
[deleted]
He got off easy and this better not get appealed lower. This guy had it all and threw it away out of pure arrogance
Way too lenient
I bet he barely serves 10 years because of ‘good behavior’ or hopefully gets a shank in the back while he’s picking up soap.
Absolutely disgusting.
💥
That’s it? Fucking joke
20yrs only for 8 bil fraud.. that is a heck loads of money.. and… there is also no $$ penalty.. no barring him from crypto industry for certain time after release?
I bet he will discreetly get a parole assisted by the reps of the party he helped
We should note cryptos can also be kept in a secret wallet only known to the owner
25 years not 20 years.
he’ll get out in five, ngl
If SBF only got 20 yrs Ross Ulbricht should at least get the possibility of parole. Justice System is broken
When you steal money, justice moves at lightning speed. Try to destroy democracy? Years and years of delays.
I’m seeing 25 everywhere which is it
Good riddance.
Out in 8 years and I bet he has a ton of crypto stashed away. As long as he didn’t steal from anyone with long reach he is likely going to be relaxing for the rest of his life.
Man’s about to have his asshole turned into a broken cat-flap.
how much in total FTX lost?
25 years, but will have a target on his back the rest of his life. Stole from a lot of people.
20 years?? Thats it??
He got 25 years. That seems fair to me, it’s serious time but he will be in his 50’s when he gets out. If he takes care of himself he can still have a life after that.
Clicked on the NBC news link in the OP, first thing I see is 25 YEARS, not 20
So he’ll be out in 5-10 that means, what a joke
Scam Shankman Fraud, its on
I saw 25 years ago
I have already forgiven him and Alex for their greed.
I think they should be made to scrub public toilets for 8 hours a day for 20 years instead of spending 20 years in some plush prison cell.
They should each have a live webcam strapped to their heads and their work day should be live streamed.
25 yrs lol the rich do have different rules
I bet he lives a life of leisure at a Federal Prison Camp, as Martha Stewart did.
Anything about congucal visits from gollum?
Good riddance dbag. Gonna lose that lisp real quick in jail.
Not enough, but it’s an achievement he will go to prison to start with.
Imagine how terrible it would be to go from being worth $15 billion to now having to spend 25 years in prison… sucks to be him
thats it? where’s the rest?
That’s incredibly lenient
Yes, I bet 20 bucks on 20 to 25 years
At 85% for good behavior the sentence is 21 years, but he could do only half that in a white collar prison and then he’ll get to go home and do the other half with home confinement.
The punishment never fits the crime, he’s probably got billions stashed away and ultimately wins from this.
Now let’s nail Alex Fuckinsky too
if bankrun-fraud gets 25 years imagine how light Caroline sentence will be. community service? work in a soup kitchen for a day?
He’ll live comfy for 10 years and be released
Lmao get fucked you vegan moppet
lock him up 20 more
Thank god. Someone’s finally going to give this kid a haircut.