Sam Bankman-Fried merits a 40-to-50-year sentence

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Prosecutors requested a U.S. District Decide to jail Sam Bankman-Fried for 40-50 years following his conviction final November.  

Federal prosecutors mentioned in a Manhattan courthouse on March 15 that Sam Bankman-Fried gambled with cash rightfully belonging to Alameda and FTX clients, ultimately stealing over $8 billion in money and cryptocurrencies by his digital asset companies.

Legal professionals for the federal government additional argued that the FTX founder insists on his innocence regardless of being discovered guilty on seven counts of fraud and conspiracy by a jury final 12 months. 

Final month, Bankman-Fried’s attorneys urged U.S. District Decide Lewis A. Kaplan to point out leniency and sentence the fallen crypto tycoon to a most of six-and-a-half years in jail. His legal professionals claimed he by no means meant to defraud Alameda and FTX clients and traders throughout his tenure in cost.

Bankman-Fried plans to contend his conviction and sentencing in an attraction courtroom, whereas Decide Kaplan is because of sentence the previous FTX CEO in a federal courtroom on March 28.

In associated information, Bankman-Fried’s dad and mom filed a movement to dismiss a lawsuit alleging the pair had been concerned of their son’s felony enterprise, as Barbara Fried and Joseph Bankman deny any hand within the collapse of the crypto trade FTX. 

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