The post The Final Chapter of FTX Saga: Sam Bankman-Fried Sentenced to 25 Years appeared first on Coinpedia Fintech News
In a dramatic turn of events, Sam Bankman-Fried, the once-glorified crypto mogul, has been sentenced to 25 years in prison on charges of federal fraud and conspiracy.
The sentencing of SBF has marked the culmination of a year-long legal saga, all of which began with the bankruptcy filing of FTX that shook the foundations of the crypto industry worldwide.
The Sentencing
The Manhattan courtroom presided over by Judge Lewis A. Kaplan held the sentencing of Sam Bankman-Fried, the former CEO of FTX. Judge Kaplan delivered the verdict, sentencing the SBF to 25 years of prison.
The decision seems to be a mid-way between what the prosecutors demanded – a rigorous punishment, and the defendant’s plea for a lenient 7 years of punishment.
After the sentencing was passed, Sam Bankman-Fried expressed remorse, stating, “A lot of people feel really let down
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