Federal Prosecutor Advocates Imposing 40 to 50-Year Imprisonment on FTX Founder SBF

FTX Exchange founder Sam Bankman-Fried (SBF) may face long-term imprisonment. US federal prosecutors are advocating for harsh punishment for SBF, recommending a sentence of 40 to 50 years in prison. The prosecutors accuse SBF of recklessly handling customer funds and show no remorse for his actions.

On the other hand, the defense has proposed a significantly lighter sentence of 5 and 1/4 to 6 and 1/2 years. They argue that FTX customers have the opportunity to recover most of their lost funds and insist that they had no initial intention of stealing.

The significant disparity in sentencing recommendations will revolve around the consequences of SBF’s actions and his responsibility towards the victims of FTX’s collapse.

Advertisement – Continue reading below
[Image]
[Image]
[Image]
[Image]
(
Is there a high probability that SBF will make a comeback with a light sentence under full compensation? Lawyer’s opinions indicate.
)

Judgment day is approaching
US District Judge Lewis Kaplan is set to announce SBF’s sentence on March 28th. Meanwhile, SBF has not surrendered and plans to appeal his conviction and sentence. The judgment to be held at the Manhattan Federal Court will mark a crucial milestone in the history of the cryptocurrency industry’s most significant fraud case.

FTX
SBF
sentence
[Image]
[Image]
Further reading
BlockFi reaches a settlement with FTX and Alameda Research, creditors may expect full compensation of $875 million.
Another channel for FTX claims, pending applications can be completed through FTX Digital by May 15th.