The federal prosecutors have asked the court to impose a severe sentence ranging from 40 to 50 years on Sam Bankman-Fried, the founder of the failed crypto exchange firm FTX.
According to the federal prosecutor’s sentencing memorandum:
“The scope, duration, nature, and sheer number of Bankman-Fried’s crimes, the resulting harm they have caused, the willful disregard of the rule of law, and the absence of countervailing mitigating circumstances render him exceptionally deserving of a sentence that is sufficiently severe to provide justice.”
Bankman-Fried was sentenced in November because he dealt with the frauds committed in the FTX collapse, which led to huge financial losses for many consumers. The prosecutors told the court that the gravity of the crimes, which included deception of investors and money laundering, is a sufficient basis for the court to sentence him to a long period of imprisonment.
Despite Bankman-Fried’s lawyer requesting a lenient sentence of 5 to 6 years, highlighting his good spirit and stating that he wasn’t an evil person, the sentencing date is set for March 28, when the judge will deliver the sentence.
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