Disgraced "Crypto King" Sam Bankman-Fried, better known as SBF, was sentenced to 25-years in prison for his role in the multi-billion dollar FTX fraud. Thursday, March 28th, 2024.
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(New York, NY) – Sam Bankman-Fried, the man better known as SBF, has been sentenced to 25 years in prison for fraud. Once called the “Crypto King,” SBF founded FTX — a cryptocurrency exchange — which effectively operated like a Ponzi scheme while collecting funds from investors.
In 2022, FTX collapsed, and four months ago SBF was convicted in the multi-billion dollar fraud scheme. Prosecutors had wanted to imprison the 32-year-old Bankman-Fried for as many as 50 years. His defense team requested six years or less. Although Bankman-Fried apologized in court Thursday, and said the collapse of FTX haunts him, the judge blasted him as “remorseless” when handing down the sentence.
