FTX appeared before the judge to serve the sentence of its former CEO. Generally, predictions are that the Federal Court will give a sentence of 20 to 30 years in prison for Sam Bankman-Fried (SBF). However, there is a possibility of up to 50 years in prison for Sam Bankman-Fried. SBF, once a respected figure in the crypto industry, is now awaiting sentencing.
The decision moment is approaching for the former CEO of FTX!
Judge Lewis Kaplan of the Southern District of New York showed little patience for Bankman-Fried’s arguments during the hearing. Now, with victims recently sharing their personal trauma caused by SBF, experts expect Kaplan to impose a sentence that reflects the magnitude of the offender’s actions.
The highly anticipated sentencing hearing of former FTX founder Sam Bankman-Fried (SBF) will take place today. According to CNBC reporter MacKenzie Sigalos, the FTX founder’s sentencing hearing will be held in federal court in Manhattan, where SBF was found guilty of all seven charges last year.
The prosecutor demands 50 years in prison for the former CEO of FTX!
SBF faces a maximum sentence of 100 years in prison for his role in leading to the collapse of FTX. Judge Lewis Kaplan is considering the appropriate sentence for the former FTX executive after he is found guilty in November 2023. Meanwhile, prosecutors are asking the judge to sentence SBF to 40 to 50 years in prison.
To gain an advantage over the defense team, prosecutors recently gave Kaplan a letter from one of FTX’s victims to influence the judge before sentencing. The victim, whose identity was hidden, claimed that he lost his 30-year savings worth $ 4 million after FTX filed for bankruptcy in 2022. The victim, a father of two, said the collapse of FTX and Alameda Research caused financial losses. He also stated that it cost him his happiness and desire to continue living. Prosecutors struggled in November to convince a jury that SBF stole at least $8 billion. He used the same tactic in this process. Therefore, it is necessary to note that the court is familiar with such stories.
defense lawyerlari maximum 6.5 years imprisonment demands!
Prosecutors want SBF to serve 40 to 50 years in prison. However, the defense team is asking the judge for a maximum sentence of six and a half years in prison. The logic behind this defense is that FTX’s customers will receive most, if not all, of the money they lost when the stock market crashed. This situation was first announced by the legal team representing the bankruptcy estate last month.
Lawyers emphasized the company’s willingness to fully refund customers and creditors with valid claims. cryptokoin.comAs you follow from , the possibility of FTX fully reimbursing victims has increased recently. Because, with the rise of the market, the prices of crypto assets owned by the exchange recorded huge gains. Now everyone is waiting for the court’s decision!
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