Sam Bankman-Fried sentenced to 25 years in prison
Sam Bankman-Fried sentenced to 25 years in prison
Sixteen months after the collapse of his FTX cryptocurrency exchange, Sam Bankman-Fried has been sentenced to 25 years in prison. He has also been ordered to pay an $11 billion monetary judgment.The sentence follows his conviction on all seven felony charges in November 2022 — a decision reache...
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Boo, I was hoping for 40. He'll get out early enough to scam more.
This is probably to satisfy the public. He’ll probably get closer from 5-10 and the rest will be watered down on appeals
He is going to federal prison, which means he needs to serve 85% of his sentence or 21.25 years minimum.
Not according to CNN:
""SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.
Since 2018, however, nonviolent federal inmates can reduce their sentence by as much as 50% under prison reform legislation known as the First Step Act."
The last 7.5 years will probably be at home detention
Meanwhile the people he stole from are unlikely to ever see any of their money again let alone half of it.
But be 25 years behind all the other scammers in the meantime at least
none of the scams are new, he'll adapt