Former FTX CEO Sam Bankman-Fried Sentenced to 25 Years in Prison
By
Ludovico Bianchi
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
Former FTX CEO, Sam Bankman-Fried, has been found guilty of multiple charges including wire fraud conspiracy, money laundering, and securities fraud. He scammed customers of approximately $10 billion, resulting in the collapse of FTX and another hedge fund. Bankman-Fried faced a possible sentence of 110 years in prison, and the judge increased the sentencing guidelines due to perjury and obstruction of justice. At the sentencing hearing, he expressed regret for the 'selfish decisions' and their impact, and indicated plans to appeal both the conviction and the sentence.