FTX fraudster Sam Bankman-Fried sentenced to 25 years in prison
Enlarge / FTX Founder Sam Bankman-Fried arrives at US District Court on March 30, 2023, in New York City after being hit with a criminal charge for allegedly authorizing a bribe of at least $40 million to one or more Chinese government officials. (credit: Getty Images | Michael Santiago )
Convicted FTX fraudster Sam Bankman-Fried was sentenced to 25 years in prison today, according to news reports.
The founder and ex-CEO of cryptocurrency exchange FTX was sentenced this morning by Judge Lewis Kaplan in US District Court for the Southern District of New York. Bankman-Fried had requested a sentence of 63 to 78 months (5.25 to 6.5 years), arguing that he deserved leniency because of his "charitable works and demonstrated commitment to others."
Kaplan also reportedly ordered a forfeiture of $11.2 billion but said there will be no actual restitution because it would be "impractical."