Prosecutors Seek 40-50 Year Prison Term for FTX's Sam Bankman-Fried
Federal prosecutors are seeking a 40 to 50-year prison sentence for Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, following his conviction on seven counts of wire fraud, securities fraud, and money laundering. They argue that the scope and impact of his crimes, which resulted in significant financial harm to customers and lenders, warrant a severe sentence. Bankman-Fried's attorneys had requested a much shorter prison term, citing neurological and personality issues. The sentencing is scheduled for March 28.
