Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Sam Bankman-Fried’s lawyers ask for prison sentence of 63 to 78 months

Sam Bankman-Fried’s lawyers ask for prison sentence of 63 to 78 months

The BlockThe Block2024/02/28 07:38
By:The Block

Quick Take Bankman-Fried’s defense attorneys said the court should consider his morality and philanthropic dedication when giving the prison sentence.

Sam Bankman-Fried’s lawyers ask for prison sentence of 63 to 78 months image 0

The defense team of Sam Bankman-Fried, former CEO of fallen crypto exchange FTX, requested a U.S. court to consider a sentence in the range of 63 to 78 months, according to a Tuesday court filing. 

“An appropriate method of arriving at a just sentence would be to consider the Adjusted Offense Level (Subtotal) of 56, reduced by 30 levels based on zero loss, which yields an advisory Guidelines range of 63-78 months,” the court filing said.

Bankman-Fried’s defense team called the pre-sentence report’s suggested sentence of 100 years “grotesque” and objected to several elements of the PSR, such as how $10 billion is not a reasonable estimate for the amount lost in the bankruptcy. The court filing also highlighted Bankman-Fried’s upbringing, morality, attention to philanthropy and how his conduct was “never motivated by greed or status.”

“​​A sentence of decades-long duration would end Sam’s ability to lead a meaningful life and contribute to the neediest in society,” the filing said.

Meanwhile, Bankman-Fried was found guilty by a New York jury last year for defrauding investors of FTX and Alameda Research in what prosecutors called "one of the biggest financial frauds in U.S. history."

The U.S. court is expected to sentence Bankman-Fried next month.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

US spot bitcoin ETFs continue net outflows, bleeding $340 million

U.S. spot bitcoin ETFs saw $338.4 million in net outflows on Tuesday.This marks the fourth straight day of net outflows from U.S. spot bitcoin funds.

The Block2024/12/25 07:55

Bitget announcement on Institutional Loans (Spot) upgrade

Bitget has upgraded its Institutional Loans (Spot) service to better meet the needs of institutional users. What are Bitget Institutional Loans? Bitget Institutional Loans are tailored for institutions and market makers, offering 3x and 5x leverage for spot trading. Optimizations Multi-Risk Unit ma

Bitget Announcement2024/12/25 06:39