Crypto Scammer Sam Bankman-Fried Gets 25 Years

The New York Times reports:

Sam Bankman-Fried, the former cryptocurrency mogul who was convicted of fraud, was sentenced to 25 years in prison on Thursday, capping an extraordinary saga that upended the multi-trillion-dollar crypto industry and became a cautionary tale of greed and hubris.

Mr. Bankman-Fried’s sentence was shorter than the 40 to 50 years that federal prosecutors had recommended, but above the six-and-a-half-year sentence requested by the defense lawyers. A federal probation officer had recommended 100 years, just under the maximum possible penalty of 110 years behind bars.

In November 2022, Mr. Bankman-Fried’s crypto exchange, FTX, imploded virtually overnight, erasing $8 billion in customer savings. At a trial last fall, he was convicted of seven counts of fraud, conspiracy and money laundering.

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