NEW YORK—A federal judge on March 28 sentenced FTX founder Sam Bankman-Fried to 25 years in prison for defrauding investors of $8 billion via the fallen cryptocurrency exchange.
U.S. District
Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing
after rejecting Mr. Bankman-Fried’s claim that FTX customers did not
actually lose money and accusing him of lying during his trial
testimony. In November 2023, jurors convicted Mr. Bankman-Fried of all
seven counts of conspiracy and fraud with which government lawyers
charged him. ---More...
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