Sam Bankman-Fried arrived in court for his sentencing hearing today and could be facing what is essentially a life sentence.
Judge Lewis Kaplan of the Southern District of New York will decide his fate. Prosecutors have asked for 40-50 years, which will essentially be the end of the 32-year-old, though he is appealing his conviction.
The defense has asked for no more than 6-and-a-half years as a non-violent first-time offender. He also argues that customers will be made whole, in part due to the recent rising value of FTX’s crypto holdings.
However, in an ominous sign, judge Kaplan appeared to reject that argument.
“The defendant’s assertion that FTX customers and creditors will be paid
in full is misleading, it is logically flawed, it…
Read More
