Sam Bankman-Fried sentenced to 25 years in prison

29/03/2024

Former crypto mogul Sam Bankman-Fried has been sentenced to 25 years in prison.

The 32-year-old was found guilty of seven counts of wire fraud after stealing around $12 billion of FTX from customers.

Prosecutors have described it as ‘one of the biggest frauds in US history’.

The prosecutors then sought a maximum sentence of 50 years behind bars.

Lawyers for the former billionaire say they will appeal the ruling.

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