Connect with us

Hi, what are you looking for?

Gain That FlavourGain That Flavour

Tech News

Sam Bankman-Fried sentenced to 25 years for FTX fraud

Digital photo collage of Sam Bankman Fried with handcuffs behind him.
FTX founder Sam Bankman-Fried once bragged that he had a 5 percent chance of becoming president of the United States | Collage by Cath Virginia / The Verge | Photo by Victor J. Blue, Bloomberg, Getty Images

FTX co-founder Sam Bankman-Fried was sentenced to a total of 300 months, or 25 years, in prison for seven counts of conspiracy and fraud charges stemming from the collapse of the crypto exchange he started. The judge applied a 240-month sentence for four of the charges, plus a 60-month sentence for two others, and ordered that Bankman-Fried forfeit more than $11 billion (including property) as recommended by prosecutors.

Judge Lewis Kaplan’s sentence was shorter than the 40 to 50 years requested by prosecutors, which he said was more than necessary, but longer than the six and a half years Bankman-Fried’s lawyers asked for and far less than the maximum sentence of 110 years.

Recapping the trial, he said that Bankman-Fried knew FTX was…

Continue reading…

You May Also Like

Editor's Pick

David J. Bier The House of Representatives impeached Department of Homeland Security (DHS) Secretary Alejandro Mayorkas, and now some senators are pressing to hold...


War between Iran and Israel would be to no one’s benefit in the region as it would likely end up in a pitched battle...

Editor's Pick

Patrick G. Eddington One point I always make when talking about national security issues, and especially those involving surveillance powers, is this: when in doubt,...

Tech News

The Dbrand Ghost Case for the iPhone 15 Pro. | Image: Dbrand Dbrand is scrapping plans to fix its anti-yellowing Ghost Case, but not...