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Updated Thursday, March 28, 2024-17:50
USA The king of crypto, Sam Bankman-Fired, could be sentenced to 110 years in prison after being found guilty of a 10 billion fraud
Economy The ex-girlfriend of SBF, the "king" of cryptocurrencies, claims that she was forced to commit fraud
The co-founder of FTX and the wunderkind of the world of cryptocurrencies, Sam Bankman-Fried, was sentenced this Thursday in New York to 25 years in federal prison and
to repay more than 11 billion dollars
for his conviction on charges related to
fraud and money laundering. of money.
Bankman-Fried, 32, faced a maximum sentence of more than 100 years for the seven crimes, including several counts of fraud and money laundering, but prosecutors were demanding between 40 and 50 years.
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Meanwhile, the young man's lawyers asked for 5 years and three months to 6 and a half years, since they assured that he intends
to return the defrauded money to those affected.
The final decision was made by Judge Lewis Kaplan, who presided over the month-long trial in November and who also, in another case, oversaw the cases between the writer E. Jean Carroll and former US president Donald Trump.
In November, Bankman-Fried was found guilty by a New York jury of the seven counts of fraud and money laundering with which he was charged.
Bankman-Fried, who at the age of 30 was already a millionaire thanks to the FTX cryptocurrency platform, addressed the court directly this Thursday to say that
he regrets
what happened and that there were
things he "should have done and things he should not have done." .
The young man also admitted that he made "a series of bad decisions" as CEO of FTX and even praised his former business partners, such as co-founder Gary Wang and his ex-girlfriend Caroline Ellison, who testified against him.
Together, they all “built something beautiful,” Bankman-Fried said.
Millions of people have been affected
by the fraud scheme and subsequent bankruptcy of FTX and other companies founded by Bankman-Fried.
Judge Kaplan said today that he found
the amount of losses
for victims of Bankman-Fried's crimes
to be more than $550 million
, the high end of the range given by federal sentencing guidelines.
FTX has stated that it expects to settle and refund customers "in full."
FTX, which was one of the largest cryptocurrency platforms in the world and
was once valued at $32 billion
(almost €29.7 billion), collapsed in November 2022 after many users rushed to withdraw their funds amid of information that questioned the company's solvency.
In just one year, Sam Bankman-Fried went from posing on the covers of the American media as a "wunderkind" in the world of cryptocurrencies to appearing in handcuffs on the news for being accused of federal charges of fraud and money laundering.