FTX member S. Bankman-Fried – 25 years in prison

The prosecutors wanted the former companies FTX and Alameda Research to live for 40-50 years. free of deprivation of liberty. Prosecutor Damian Williams previously said Bankman-Fried ran one of the largest financial fraud schemes in American history.

S. Bankman-Fried’s defenders are trying to show that the FTX gang was not a ruthless financial criminal who woke up every morning with the goal of harming people.

His real motivation was not understood, said lawyer Marc Mukasey, who will represent the convict. And he is a weird scientist… He likes computer games, veganism and animals.

S. Bankmanas-Fried himself apologized for his actions in court on Thursday.

Many people feel disappointed, and they were disappointed, for that I regret, says S. Bankmanas-Fried, where he quotes CNN. I regret what happened at each different stage. There were things I was supposed to do and there were things I wasn’t supposed to do.

The defense is trying to show that the former crypto-billionaire will have to spend only 5-6 years in prison, because the clients who suffered from FTX will eventually recover their lost money.

However, the judge Lewis Kaplan rejected the arguments, he said that the investors lost 1.7 billion. USD, Alameda creditors 1.3 billion. USD, and FTX customer losses reached 8 billion. USD. The judge also stated that S. Bankmanas-Fried lied to the court during his testimony.

Galins door

V reminds that S. Bankmanas-Fried passed away on November 3. was found guilty on all 7 counts of fraud and money laundering. It only took a few hours for the jury to reach a verdict on all charges.

In its heyday, the FTX investor was valued at as much as $32 billion. USD, and S. Bankman-Fried’s own assets are about 26 billion. USD. in the media, he received attention both because of the impressive wealth he accumulated when he was only 30 years old, and because of his billionaire image and self-declared ascetic lifestyle.

FTX actively supports various sports teams, for example, the company’s logo was displayed on the Mercedes team’s car in the Formula 1 race, and the FTX Arena was the home of the NBA Crepe League team Miami Heat.

However, S. Bankman-Fried’s empire began to fall like a house of cards in 2022. at the end Then the portal coindesk.com Alameda Research, another cryptocurrency company owned by S. Bankman-Fried, singled out the balance sheet of Alameda Research, which showed that the company holds a very large part of its assets in FTX-allowed eton FTT, which fell in value just before the crypto-empire’s problems began to arise.

It turned out that Alameda had access to the FTX client through a secret backdoor, although its official terms of use strictly forbid such an action.

In addition to spending on their own needs, FTX client Lomis S. Bankmanas-Friedas in 2022. In the US mid-term elections, both Republican and Democratic parties, prosecutors claimed that political support exceeded 100 million. USD, received from it by the party concealing its origin.

Both FTX and Alameda quickly went bankrupt after the scandal broke out, and in 2022. S. Bankman-Fried was arrested at his home in the Bahamas in December.

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