Time

The judge sentenced FTX's former CEO Sam Bankman-Fried, who was accused of fraud, to 25 years in prison. 
According to the judge's recommendation, SBF will serve his sentence in a prison close to his family in the San Francisco Bay Area. 
Prosecutors had previously requested a 40-year prison sentence. According to the rules, the punishment was life imprisonment. 
Judge Lewis Kaplan announced his decision following a hearing in a Manhattan courtroom following Bankman-Fried's conviction on seven felonies in November, a year after FTX filed for Chapter 11 bankruptcy. 
The former FTX CEO is expected to appeal Kaplan's conviction, a process that should not begin until after the sentencing decision. 
Bankman-Fried was facing up to a hundred years in prison based on his parole officer's report. Kaplan did not adhere to this advice. While Bankman-Fried's defense team, a different group of lawyers from those who represented him during the five-week trial, did not seek a sentence of more than 6.5 years, prosecutors from the US Department of Justice requested a prison sentence of 40 to 50 years. 
<h2 id="how-long-will-sam-bankman-fried-who-was-sentenced-to-25-years-in-prison-actually-spend-time-in-prison">How long will Sam Bankman-Fried, who was sentenced to 25 years in prison, actually spend time in prison?</h2> 
Because Bankman-Fried received a sentence longer than a year, he will likely receive an automatic 15% sentence reduction. 
Part of that 3.75-year discount could be added to prison time if the FTX founder gets into serious trouble while in prison. 
But beyond that 15% reduction, Bankman-Fried will almost certainly spend most of the remaining 85% of his sentence (a hefty 21.25 years) in federal prison. 
There are only a few exemptions and loan programs that can shorten SBF's time in federal prison. And even in the best-case scenario, such reductions may shorten the period by only a year or two. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-sentence-of-former-ftx-ceo-sam-bankman-fried-announced-here-is-the-time-he-will-serve-in-prison/">BREAKING: Sentence of Former FTX CEO Sam Bankman-Fried Announced! Here is the Time He Will Serve in Prison!</a>

BREAKING: Sentence of Former FTX CEO Sam Bankman-Fried Announced! Here is the Time He Will Serve in Prison!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Mar 28, 2024

Bitcoin Eyes $180K Peak: ETFs, Halving, and Easing Policies to Fuel Surge

Rasio Risiko Jual Bitcoin (BTC) Mencapai Puncak 3 Tahun, Tanda Koreksi?

Comprehensive Guide to OMG Network and Its Complete Working

CZOLANA Launches CZOL TRENDING, an Innovative Trending Bot for Solana Tokens To Gain Exposure

The Battle Over Crypto’s Environmental Impact: Pennsylvania’s Landmark Case

Fetch AI Analyst Points to Next Price Targets for FET Following ‘Overhead Resistance Trendline’ B...

Join our free newsletter for daily crypto updates!