<a href="https://optimisus.com/market/market-news/is-justin-sun-htx-exchange-at-risk-of-becoming-the-next-sbf-analyst-warns/" rel="noopener noreferrer nofollow">Sam Bankman-Fried or SBF</a>, the ex-CEO of FTX, has received a 25-year jail term for his involvement in the downfall of the crypto exchange.  
Judge Lewis Kaplan rebuked the defense's claims, highlighting Bankman-Fried's obstruction of justice and interfering with witnesses as crucial elements in determining his punishment.  
Bankman-Fried acknowledged remorse for his "selfish" choices and said that his errors continue to trouble him on a daily basis.  
The defense attorneys had petitioned for a reduced term of 6½ years, however, Judge Kaplan favored the prosecution' stance and opted for a more severe punishment.  
The victims' testimonials exposed profound financial and emotional suffering, and his 25-year sentence is one of the lengthiest for recent white-collar offenses.  
FTX, formerly valued at more than $30 billion, had a collapse in 2022 with the discovery of a $8 billion misappropriation of client cash.  
SBF's defense contended that he was only "borrowing" monies for his investment business, nonetheless, the jury rendered a verdict of guilty on all charges. Critics and experts deemed Bankman-Fried's defense weak, and his testimony failed to elicit compassion.  
<a href="https://optimisus.com/market/market-news/sbfs-parents-request-dismissal-of-their-lawsuit-denying-involvement-in-any-fraud-or-bad-management/" rel="noopener noreferrer nofollow">Two months ago</a>, the parents of former&nbsp;<a href="https://optimisus.com/market/market-news/ftx-founder-sam-bankman-fried-sbf-testifies-on-october-26-as-expected/" rel="noopener noreferrer nofollow">FTX CEO Sam Bankman-Fried (SBF)</a>&nbsp;have categorically denied any involvement in fraud or mismanagement within the FTX organization. 
The post <a href="https://optimisus.com/news/crypto-news/ftx-founder-sam-bankman-fried-sentenced-to-25-years/" rel="noopener noreferrer nofollow">FTX founder Sam Bankman-Fried sentenced to 25 years</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

FTX founder Sam Bankman-Fried sentenced to 25 years

Optimisus

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