2024

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According to a crypto lawyer, FTX founder Sam Bankman-Fried will spend his&nbsp;full&nbsp;sentence in prison. 
In an interview with journalist Tiffany Fong, crypto lawyer Carlo&nbsp;D’Angelo&nbsp;said&nbsp;that <a href="https://crypto.news/tag/sam-Bankman-Fried/" target="_blank" rel="">Sam Bankman-Fried</a> does not qualify for parole. 
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 Chatting w/ criminal defense attorney <a href="https://twitter.com/DeFiDefenseLaw?ref_src=twsrc%5Etfw" target="_blank" rel="">@DeFiDefenseLaw</a> about the fate of SBF's co-conspirators Caroline Ellison, Gary Wang &amp; Nishad Singh, SBF's parents (Barbara Fried fkn hates me 😅), whether or not Joe Biden will pardon SBF &amp; more! <a href="https://t.co/1SNg2Gbze4" target="_blank" rel="">pic.twitter.com/1SNg2Gbze4</a>— Tiffany Fong (@TiffanyFong_) <a href="https://twitter.com/TiffanyFong_/status/1786231333595066441?ref_src=twsrc%5Etfw" target="_blank" rel="">May 3, 2024</a>
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According to the expert,&nbsp;the convicted entrepreneur will not be released&nbsp;on parole under any circumstances. Despite this, there is a chance Bankman-Fried will leave prison early, as the U.S. Federal Bureau of Prisons has the right to award the FTX founder good behavior&nbsp;status, thus being released&nbsp;earlier than the date specified in the sentence. To do this, the convicted person must avoid disciplinary sanctions and demonstrate good behavior. 
However, the reward will not significantly shorten&nbsp;Bankman-Fried’s&nbsp;prison time, as D’Angelo noted that inmates like Bankman-Fried serve 85% of their sentences&nbsp;in most cases.&nbsp;Per this precedent, the former head of <a href="https://crypto.news/tag/FTX/" target="_blank" rel="">FTX</a> will likely spend at least 21 years in prison. 
 You might also like: <a href="https://crypto.news/bankman-fried-remain-brooklyn-prison/" rel=""> Sam Bankman-Fried requests to remain in Brooklyn prison until appeal </a> 
In addition,&nbsp;the crypto lawyer&nbsp;ruled out the possibility of Bankman-Fried&nbsp;being pardoned&nbsp;by President Joe Biden. 
Taking into account&nbsp;the sentence, the entrepreneur accused of multibillion-dollar fraud will have the time spent in custody awaiting his sentence counted as time served. 
There are various options for the prison to which Bankman-Fried could be sent.&nbsp;The authorities will determine the specific penitentiary facility based on the characteristics of his case, his psychological state, and other factors, D’Angelo concluded.&nbsp; 
Sam Bankman-Fried <a href="https://crypto.news/sam-bankman-fried-sentenced-25-years-ftx/" target="_blank" rel="">received</a> 25 years in prison in late March on seven charges relating to fraud, financial fraud, embezzlement, conspiracy, and money laundering. 
 You might also like: <a href="https://crypto.news/what-awaits-ftx-after-sam-bankman-frieds-25-year-sentence/" rel=""> What awaits FTX after Sam Bankman-Fried’s 25-year sentence? </a>

Crypto lawyer: Sam Bankman-Fried to serve 20-year prison sentence without parole

crypto.news

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