Prosecutors requested a U.S. District Decide to jail Sam Bankman-Fried for 40-50 years following his conviction final November.
Federal prosecutors mentioned in a Manhattan courthouse on March 15 that Sam Bankman-Fried gambled with cash rightfully belonging to Alameda and FTX prospects, finally stealing over $8 billion in money and cryptocurrencies via his digital asset corporations.
Attorneys for the federal government additional argued that the FTX founder insists on his innocence regardless of being discovered responsible on seven counts of fraud and conspiracy by a jury final yr.
Final month, Bankman-Fried’s attorneys urged U.S. District Decide Lewis A. Kaplan to indicate leniency and sentence the fallen crypto tycoon to a most of six-and-a-half years in jail. His attorneys claimed he by no means meant to defraud Alameda and FTX prospects and traders throughout his tenure in cost.
Bankman-Fried plans to contend his conviction and sentencing in an enchantment courtroom, whereas Decide Kaplan is because of sentence the previous FTX CEO in a federal courtroom on March 28.
In associated information, Bankman-Fried’s dad and mom filed a movement to dismiss a lawsuit alleging the pair had been concerned of their son’s prison enterprise, as Barbara Fried and Joseph Bankman deny any hand within the collapse of the crypto change FTX.