Sam Bankman-Fried sentenced to 25 years in prison for his role in collapse of FTX crypto exchange
CBSN
Former cryptocurrency billionaire Sam Bankman-Fried was sentenced Thursday to 25 years behind bars for his role in perpetrating one of the largest financial crimes in U.S. history.
Bankman-Fried, 32, was convicted in November of seven counts of fraud, conspiracy and money laundering, along with other charges of conspiracy to commit commodities and securities fraud.
Bankman-Fried had faced up to 110 years under federal sentencing guidelines, but prosecutors had called for Judge Lewis Kaplan to sentence Bankman-Fried to between 40 and 50 years in prison for what they described as a "historic fraud." Bankman-Fried's attorneys had argued for a sentence of no more than six and a half years, saying he was unlikely to reoffend.
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