28-03-2024, 07:13 PM
Sam Bankman-Fried, the former billionaire crypto boss who was convicted of fraud and money laundering last year, will return to court in New York on Thursday to be sentenced for his crimes.
It is certain the 32-year-old will be going to jail; what is not known is how long for.
The moment has revived debate about the extent of his crimes - and what punishment might fit.
His legal team have called for leniency, but prosecutors are seeking 40 to 50 years in prison.
They say such a sentence is warranted for someone who lied to investors and banks, and stole billions in deposits from customers of his now-bankrupt crypto exchange, FTX.
https://www.bbc.com/news/business-68560911
It is certain the 32-year-old will be going to jail; what is not known is how long for.
The moment has revived debate about the extent of his crimes - and what punishment might fit.
His legal team have called for leniency, but prosecutors are seeking 40 to 50 years in prison.
They say such a sentence is warranted for someone who lied to investors and banks, and stole billions in deposits from customers of his now-bankrupt crypto exchange, FTX.
https://www.bbc.com/news/business-68560911