Manhattan prosecutors condemn former FTX chief’s ‘unmatched greed and hubris’ and seek long sentence for $8bn fraud conviction
Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8bn from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said on Friday.
“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,” federal prosecutors in Manhattan wrote. “And even now Bankman-Fried refuses to admit what he did was wrong.”
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