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Sam Bankman-Fried’s lawyers criticize prosecutors’ 50-year prison proposal as distorted, amid wire fraud and conspiracy accusations related to his crypto empire’s downfall.
U.S. prosecutors’ proposal to put <a href="https://crypto.news/tag/ftx/" target="_blank" rel="noopener noreferrer nofollow">FTX</a> founder <a href="https://crypto.news/tag/sam-bankman-fried/" target="_blank" rel="noopener noreferrer nofollow">Sam Bankman-Fried</a> in prison for as long as 50 years adopts a “medieval view of punishment,” as the filing portrays the disgraced crypto entrepreneur as a “depraved super-villain,” Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-03-20/sbf-says-50-year-sentence-only-suitable-for-a-super-villain" target="_blank" rel="noopener noreferrer nofollow">reports</a>, citing a written response from Bankman-Fried’s lawyers on the proposal.
Nonetheless, prosecutors assert that a sentence ranging from 40 to 50 years is warranted for Bankman-Fried’s involvement in what they describe as a “historic” crime, which targeted over 1 million victims and resulted in losses exceeding $10 billion due to the collapse of FTX. Bankman-Fried’s defense team disagrees, proposing a prison term of 5.25 to 6.5 years, and <a href="https://crypto.news/ftxs-bankman-fried-is-deeply-sorry-for-8b-fraud-pushes-for-shorter-sentence/" target="_blank" rel="noopener noreferrer nofollow">emphasizing</a> that despite FTX’s collapse, the exchange’s clients were reimbursed.
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 “With marked hostility, the memorandum distorts reality to support its precious ‘loss’ narrative and casts Sam as a depraved super-villain; it attributes to him dark and megalomaniacal motives that fly in the face of the record; it makes apocalyptic prophecies of recidivism; and it adopts a medieval view of punishment to reach what amounts to a death-in-prison sentencing recommendation.”
 Bankman-Fried’s defense team
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You might also like: <a href="https://crypto.news/sam-bankman-fried-list-random-bad-ideas-tucker-carlson/" rel="noopener noreferrer nofollow"> Sam Bankman-Fried’s list of ‘random probably bad ideas’ included a Tucker Carlson Q&amp;A </a>
In November 2023, a jury unanimously convicted the FTX founder on all seven criminal charges. FTX and Alameda Research declared bankruptcy in November 2022 as the crisis unfolded. As crypto.news&nbsp;<a href="https://crypto.news/ftx-saga-what-happened-to-ftx/" target="_blank" rel="noopener noreferrer nofollow">reported</a>, the bankruptcy filings revealed a chaotic and financially unsound environment within FTX, with court documents suggesting that the company owed over $3 billion to its top 50 creditors. Bankman-Fried’s sentencing is due Mar. 28 at 9:30 a.m. ET.
Read more: <a href="https://crypto.news/ftx-saga-what-happened-to-ftx/" rel="noopener noreferrer nofollow"> FTX saga: what happened to FTX and Sam Bankman-Fried in 2023 </a>

Bankman-Fried’s lawyers decry proposed 50-year sentence as ‘medieval view of punishment’

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