Former billionaire crypto boss, Sam Bankman-Fried, who was convicted of fraud and money laundering, will be sentenced today for his crimes.
Bankman-Fried, 32, was convicted last November of fraud and conspiracy by a jury that found that he illegally used money from FTX depositors to cover his expenses, which included purchasing luxury properties in the Caribbean, alleged bribes to Chinese officials and private planes.
He will return to a New York court on Thursday.
Prosecutors have recommended a prison sentence of 40 to 50 years.
“The defendant victimised tens of thousands of people and companies, across several continents, over a period of multiple years,” prosecutors told Judge Lewis Kaplan in a court filing.
“He stole money from customers who entrusted it to him; he lied to investors; he sent fabricated documents to lenders; he pumped millions of dollars in illegal donations into our political system; and he bribed foreign officials. Each of these crimes is worthy of a…
Source: Linda Ikeji
