FTX Founder Sam Bankman-Fried Found Guilty of Fraud in $8 Billion Cryptocurrency Scam
Published: 15 March 2024 at 21:14
Business
Sam Bankman-Fried, founder of FTX cryptocurrency exchange, has been convicted of stealing $8 billion and defrauding investors, customers, and lenders. Prosecutors argue he should spend 40 to 50 years in prison, while Bankman-Fried\'s lawyers suggest a 514- to 612-year prison term is appropriate. Despite the conviction, Bankman-Fried plans to appeal his sentence. The sentencing is scheduled for March 28 in Manhattan federal court.
SOURCES
The 6 Reasons Prosecutors Want Sam Bankman-Fried to Spend 40-50 Years in Prison
Prosecutors recommend a 40- to 50-year sentence for Sam Bankman-Fried.
The Verge
Prosecutors seek from 40 to 50 years in prison for Sam Bankman-Fried for cryptocurrency fraud
By LARRY NEUMEISTER
Sam Bankman-Fried should serve at least 40 years behind bars, prosecutors say
NBC
Prosecutors want a 40- to 50-year prison sentence for Sam Bankman-Fried
Fox News
