{"id":186241,"date":"2024-03-28T14:28:18","date_gmt":"2024-03-28T19:28:18","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2024\/03\/sam-bankman-fried-sentenced-to-25-years-in-prison-for-orchestrating-ftx-fraud"},"modified":"2024-03-28T14:28:18","modified_gmt":"2024-03-28T19:28:18","slug":"sam-bankman-fried-sentenced-to-25-years-in-prison-for-orchestrating-ftx-fraud","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2024\/03\/sam-bankman-fried-sentenced-to-25-years-in-prison-for-orchestrating-ftx-fraud","title":{"rendered":"Sam Bankman-Fried sentenced to 25 years in prison for orchestrating FTX fraud"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/sam-bankman-fried-sentenced-to-25-years-in-prison-for-orchestrating-ftx-fraud.jpg\"><\/a><\/p>\n<p>Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in defrauding users of the collapsed cryptocurrency exchange FTX. In a Lower Manhattan federal courtroom, U.S. District Judge Lewis Kaplan called the defense\u2019s argument misleading, logically flawed, and speculative.<\/p>\n<hr>\n<p>Bankman-Fried, wearing a beige jailhouse jumpsuit, struck an apologetic tone, saying he had made a series of \u201cselfish\u201d decisions while leading FTX and \u201cthrew it all away.\u201d<\/p>\n<p>\u201cIt haunts me every day,\u201d he said in his statement.<\/p>\n<p>Prosecutors had sought as much as 50 years, while Bankman-Fried\u2019s legal team argued for no more than 6\u00bd years. <a href=\"https:\/\/www.nbcnews.com\/business\/business-news\/sam-bankman-fried-verdict-ftx-trial-rcna123158\" target=\"_blank\">He was convicted on seven criminal counts<\/a> in November and had been held at the Metropolitan Detention Center in Brooklyn since.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in defrauding users of the collapsed cryptocurrency exchange FTX. In a Lower Manhattan federal courtroom, U.S. District Judge Lewis Kaplan called the defense\u2019s argument misleading, logically flawed, and speculative. Bankman-Fried, wearing a beige jailhouse jumpsuit, struck an apologetic tone, saying he had [\u2026]<\/p>\n","protected":false},"author":709,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1761,1493],"tags":[],"class_list":["post-186241","post","type-post","status-publish","format-standard","hentry","category-cryptocurrencies","category-law-enforcement"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/186241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/709"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=186241"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/186241\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=186241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=186241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=186241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}