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Sam Bankman-Fried deserves 40-50 years in prison for FTX fraud, prosecutors say (www.reuters.com)

submitted 5 months ago by [email protected] to c/[email protected]

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NEW YORK, March 15 (Reuters) - Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8 billion from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said on Friday. ... "Even now Bankman-Fried refuses to admit what he did was wrong," prosecutors wrote in a sentencing memorandum. "His life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people's money."

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[–] [email protected] 108 points 5 months ago (2 children)

I mean he defrauded rich people.

Off course he gets the book.

[–] [email protected] 37 points 5 months ago

The Madoff Mistake, a classic.

[–] Croquette 3 points 5 months ago

The only time there is real consequences