NEW YORK (AP) — Entrepreneur in the cryptocurrency space Sam Bankman-Fried was sentenced to 25 years in jail on Thursday for a colossal fraud
NEW YORK (AP) — Entrepreneur in the cryptocurrency space Sam Bankman-Fried was sentenced to 25 years in jail on Thursday for a colossal fraud
that affected hundreds of thousands of clients and came to an end with the demise of FTX, which was once among the most well-known platforms for trading digital currencies worldwide.
that affected hundreds of thousands of clients and came to an end with the demise of FTX, which was once among the most well-known platforms for trading digital currencies worldwide.
Despite calling Bankman-Fried "very smart," U.S. District Judge Lewis A. Kaplan delivered a scathing indictment of Bankman-Fried and his crimes
Despite calling Bankman-Fried "very smart," U.S. District Judge Lewis A. Kaplan delivered a scathing indictment of Bankman-Fried and his crimes
Then, he announced a sentence that was less than 25% of the 105 years that the court's probation officers recommended and half of what the prosecutors had requested.
Then, he announced a sentence that was less than 25% of the 105 years that the court's probation officers recommended and half of what the prosecutors had requested.
Fill in soThe 32-year-old Californian who appeared to be at the top of the cryptocurrency world before his businesses failed in November 2022, leaving clients, me text
Fill in soThe 32-year-old Californian who appeared to be at the top of the cryptocurrency world before his businesses failed in November 2022, leaving clients, me text
investors, and lenders short of over $11 billion, which a judge ordered him to forfeit, is essentially unknown worldwide, according to Kaplan.
investors, and lenders short of over $11 billion, which a judge ordered him to forfeit, is essentially unknown worldwide, according to Kaplan.
After a meteoric rise that featured a Super Bowl commercial, congressional testimony,
After a meteoric rise that featured a Super Bowl commercial, congressional testimony,
celebrity endorsements from athletes like quarterback Tom Brady, basketball point guard Stephen Curry,
celebrity endorsements from athletes like quarterback Tom Brady, basketball point guard Stephen Curry,
comedian Larry David, he was found guilty in November of fraud and conspiracy.
comedian Larry David, he was found guilty in November of fraud and conspiracy.
According to the judge, Bankman-perjury Fried repeatedly made false statements when testifying, "often evasive, hair-splitting, dodging questions.
According to the judge, Bankman-perjury Fried repeatedly made false statements when testifying, "often evasive, hair-splitting, dodging questions.
In the Manhattan courtroom where Bankman-Fried had testified four months earlier, claiming that he had not intended
In the Manhattan courtroom where Bankman-Fried had testified four months earlier, claiming that he had not intended