Watch as disgraced crypto boss Sam Bankman-Fried is sentenced for fraud on Tursday (28 Marc).
The former billionaire entrepreneur who founded the now-bankrupt cryptocurrency company FTX, will appear in a Manhattan federal court to be sentenced on several fraud and conspiracy charges.
Just four months ago, a jury determined that Bankman-Fried, 32, had lied to FTX investors, lenders and customers and used their money to build himself up as the “King of Crypto”.
He was convicted on a total of seven charges: two counts of fraud and five counts of conspiracy.
On Thursday, Bankman-Fried returned to court where District Judge Lewis Kaplan handed down a sentence of 25 years in prison.
Federal prosecutors asked Judge Kaplan to sentence him to between 40 and 50 years. Bankman-Fried’s lawyers pushed back on that, saying no more than 6.5 years is appropriate given he is a non-violent first offender.