After telling U.S. District Judge Lewis Kaplan that he was “sorry about what happened”, FTX founder and former CEO Sam Bankman-Fried was sentenced to 25 years in jail for his role in orchestrating massive fraud at the crypto exchange.
Some of the the judge’s reasons for giving 32 year old SBF a fairly strict sentence – although less than the 110 years he could have doled out, or the 40-50 years that prosecutors were asking for – include SBF having committed perjury at his trial, and the judge’s decision that indeed a lot of financial harm was done, in the billions of dollars, to many people.
SBF and his legal team are expected to file an appeal of the sentencing.
FTX filed for bankruptcy in November 2022, and Sam Bankman-Fried was arrested in the Bahamas in December 2022 and eventually extradited to the US for trial.
