{"id":27456,"date":"2024-03-29T07:17:15","date_gmt":"2024-03-29T11:17:15","guid":{"rendered":"https:\/\/worldjusticenews.com\/news\/?p=27456"},"modified":"2024-03-29T07:17:15","modified_gmt":"2024-03-29T11:17:15","slug":"fallen-crypto-king-sam-bankman-fried-gets-25-years-for-fraud","status":"publish","type":"post","link":"https:\/\/worldjusticenews.com\/news\/2024\/03\/29\/fallen-crypto-king-sam-bankman-fried-gets-25-years-for-fraud\/","title":{"rendered":"Fallen &#8216;Crypto King&#8217; Sam Bankman-Fried gets 25 years for fraud"},"content":{"rendered":"<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\"><b class=\"ssrcss-1xjjfut-BoldText e5tfeyi3\">Sam Bankman-Fried, co-founder of the failed crypto exchange FTX, has been sentenced to 25 years in prison for defrauding customers and investors of his now-bankrupt firm.<\/b><\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The ruling cements the downfall of the former billionaire, who emerged as a high profile champion of crypto before his firm&#8217;s dramatic collapse in 2022.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He was found to have stolen billions from customers ahead of the failure.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Bankman-Fried&#8217;s legal team will appeal against his conviction.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">A message from his parents shared with the BBC by a representative for Bankman-Fried said: &#8220;We are heartbroken and will continue to fight for our son.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Earlier, the 32-year-old said in court he knew &#8220;a lot of people&#8221; felt &#8220;really let down&#8221;.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;I&#8217;m sorry about that. I&#8217;m sorry about what happened at every stage,&#8221; he said, speaking quietly and clearly ahead of his sentencing.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">FTX was one of the world&#8217;s largest crypto exchanges before its demise, turning Bankman-Fried into a business celebrity and attracting millions of customers who used the platform to buy and trade cryptocurrency.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Rumours of financial trouble sparked a run on deposits in 2022, precipitating the firm&#8217;s implosion and exposing Bankman-Fried&#8217;s crimes.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He was convicted by a New York jury last year on charges including wire fraud and conspiracy to commit money laundering, after a trial that detailed how he had taken more than $8bn (\u00a36.3bn) from customers, and used the money to buy property, make political donations and put toward other investments.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Before reading the sentence on Thursday, Judge Lewis Kaplan provided a harsh assessment of Bankman-Fried&#8217;s behaviour, saying he had lied during his testimony at trial when he claimed he was unaware until the last minute that his companies were taking money entrusted to them for safe-keeping by customers and using it for other purposes.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"unordered-list-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<div class=\"ssrcss-1o5f7ft-BulletListContainer e5tfeyi0\">\n<ul role=\"list\">\n<li><a class=\"ssrcss-1j7tryj-InlineLink e1kn3p7n0\" href=\"https:\/\/www.bbc.co.uk\/news\/world-us-canada-67302950\" target=\"_blank\" rel=\"noopener\">Everyone got duped by Sam Bankman-Fried&#8217;s big gamble<\/a><\/li>\n<li><a class=\"ssrcss-1j7tryj-InlineLink e1kn3p7n0\" href=\"https:\/\/www.bbc.co.uk\/news\/technology-63612489\" target=\"_blank\" rel=\"noopener\">The fall of \u2018King of Crypto\u2019 Sam Bankman-Fried<\/a><\/li>\n<li><a class=\"ssrcss-1j7tryj-InlineLink e1kn3p7n0\" href=\"https:\/\/www.bbc.co.uk\/news\/business-66990173\" target=\"_blank\" rel=\"noopener\">Who is Sam Bankman-Fried?<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;He knew it was wrong. He knew it was criminal. He regrets that he made a very bad bet about the likelihood of getting caught but he&#8217;s not going to admit a thing,&#8221; the judge said.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Though Bankman-Fried had made &#8220;protestations of sorrow&#8221; about customer losses, he had uttered &#8220;never a word of remorse for the commission of terrible crimes&#8221;, he added.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">While 25 years constitutes a serious prison sentence, it is far less than the more than 100 years Bankman-Fried could have received under official government guidelines.<\/p>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Federal prosecutors in New York this month told the judge such a long term was not necessary.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">But they requested at least 40 years, arguing that Bankman-Fried had committed a massive fraud, while showing &#8220;brazen disrespect&#8221; for the law.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Bankman-Fried&#8217;s team had argued for a lighter sentence of roughly five to 6.5 years.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">They said that he was a non-violent, first-time offender, and pointed to mental health struggles and argued that customers were poised to recover significant sums under a plan currently working through bankruptcy court.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;The victims want their money back and they should get it,&#8221; his lawyer, Marc Mukasey, argued in court on Thursday morning. &#8220;Sentence him to work hard and give it all away.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Former federal prosecutor Mitchell Epner, now a lawyer at Rottenberg Lipman Rich, said he was &#8220;very surprised&#8221; by the ruling, noting that Bankman-Fried could potentially be released from prison in about 13 years.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">But Jennifer Taub, a law professor at Western New England University and expert on white-collar crime, said she thought the length of the sentence was appropriate.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;It is the right balance between how old he is and what is the purpose of deterrence,&#8221; she said.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">In his sentencing remarks, Judge Kaplan said what could amount to a life sentence was unnecessary but that Bankman-Fried must receive a punishment sufficient to prevent him from committing future crimes.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;There is a risk that this man will be in a position to do something very bad in the future and it&#8217;s not a trivial risk, not a trivial risk at all,&#8221; he said.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"unordered-list-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<div class=\"ssrcss-1o5f7ft-BulletListContainer e5tfeyi0\">\n<ul role=\"list\">\n<li><a class=\"ssrcss-1j7tryj-InlineLink e1kn3p7n0\" href=\"https:\/\/worldjusticenews.com\/news\/2024\/03\/28\/prosecutors-seek-2-5-year-jail-term-over-luis-rubiales-world-cup-kiss\/\" target=\"_blank\" rel=\"noopener\">WATCH: Downfall of the &#8216;Crypto King&#8217;<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He also ordered Bankman-Fried to forfeit $11bn that can be used to compensate victims.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The government has already seized some of those assets, such as shares Bankman-Fried owned in Robinhood, the trading app which raised more than $600m when they were sold last year.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Bankman-Fried showed little visible reaction to the ruling.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Bankman-Fried has admitted to mistakes of mismanagement, but maintained that he was acting in good faith.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">In his comments ahead of the sentencing, he stuck to his story that FTX had the holdings to repay customers at the time of its collapse and said he did not think that reasons behind customer suffering had been &#8220;properly told&#8221;.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;They&#8217;ve been failed by more people than I can count&#8221; including himself, he said, speaking of the exchange&#8217;s customers. &#8220;It&#8217;s been excruciating to watch.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Bankman-Fried said he was sorry for disappointing not only customers but also former employees, including top lieutenants Caroline Ellison and Gary Wang, formerly close friends who testified against him at trial and whom he praised in his remarks.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;They all built something really beautiful, they threw themselves into it and then I threw it all away,&#8221; he added. &#8220;It haunts me every day.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Dozens of people, including former FTX customers, family, friends of his parents and complete strangers, had submitted letters to the court, trying to sway the outcome.<\/p>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Louis Dorigny of California, who had been an FTX customer said it was a &#8220;bittersweet moment for creditors&#8221;.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;I don&#8217;t wish jail time on anybody, and 25 years is a very, very long time to be in prison, but it does nothing to compensate the victims for the loss of their cryptocurrency,&#8221; he said.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Samuel Hapak, chief executive of crypto trading fund Wincent, whose firm represented 200 investors with millions of dollars at FTX when it entered bankruptcy, told the BBC that he thought the ruling was &#8220;fair&#8221;.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;Twenty-five years is a lot and I believe that this sounds like a reasonable signal to the industry that it needs to step up the game,&#8221; he said.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Judge Kaplan said he would not recommend Bankman-Fried serve his sentence in a maximum security prison because the court had no reason to believe he posed a threat of violence.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He said he was also taking into account concerns raised by his lawyers and parents that Bankman-Fried&#8217;s social awkwardness stemming from autism spectrum disorder would make him vulnerable in prison.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Bankman-Fried&#8217;s case has been closely watched by other crypto executives and firms facing charges.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">But he is not the first player in the industry to be sentenced.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Karl Sebastian Greenwood, who worked with &#8220;Cryptoqueen&#8221; Ruja Ignatova, was sentenced to 20 years in prison last year for his role convincing millions of people to invest more than $4bn in a fraudulent currency, OneCoin.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">His case also drew comparisons to Bernie Madoff, who was setenced to 150 years in prison after being found guilty of a $64bn Ponzi scheme.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Former federal prosecutor Marc Litt, who worked on the the case against Madoff and is now a lawyer at Wachtel Missry, said he saw big differences between the two fraudsters, noting Madoff was older when sentenced, had committed his crimes over several decades, stolen from people he knew well and had no one step forward to testify to his character.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\" data-component=\"text-block\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;The court implicitly took those sorts of differences into consideration and I believe that the resulting lower sentence was both warranted and is unlikely to be disturbed on appeal,&#8221; he said.<\/p>\n<p>Source: <a href=\"https:\/\/www.bbc.co.uk\/news\/business-68677487\" target=\"_blank\" rel=\"noopener\">bbc.co.uk<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\">Sam Bankman-Fried, co-founder of the failed crypto exchange FTX, has been sentenced to 25 years in prison for defrauding customers and investors of his now-bankrupt firm. The ruling cements the downfall of the former billionaire, <a class=\"mh-excerpt-more\" href=\"https:\/\/worldjusticenews.com\/news\/2024\/03\/29\/fallen-crypto-king-sam-bankman-fried-gets-25-years-for-fraud\/\" title=\"Fallen &#8216;Crypto King&#8217; Sam Bankman-Fried gets 25 years for fraud\">[&#8230;]<\/a><\/div>\n","protected":false},"author":1,"featured_media":27457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[109,2,3],"tags":[9077,4686,305,8928,521,8999],"class_list":{"0":"post-27456","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headline","8":"category-news","9":"category-usa","10":"tag-crypto-exchange","11":"tag-cryptocurrency","12":"tag-fraud","13":"tag-ftx","14":"tag-new-york","15":"tag-sam-bankman-fried","16":"pmpro-has-access"},"_links":{"self":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/27456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/comments?post=27456"}],"version-history":[{"count":2,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/27456\/revisions"}],"predecessor-version":[{"id":27459,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/27456\/revisions\/27459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/media\/27457"}],"wp:attachment":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/media?parent=27456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/categories?post=27456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/tags?post=27456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}