Sam Bankman-Fried sentenced to 25 years in prison for orchestrating FTX fraud 
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Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in defrauding users of the collapsed cryptocurrency exchange FTX.
In a Lower Manhattan federal courtroom, U.S. District Judge Lewis Kaplan called the defense's argument misleading, logically flawed, and speculative.
He said Bankman-Fried had committed obstruction of justice and witness tampering while mounting his defense — something Kaplan said he weighed in his sentencing decision.
Bankman-Fried, wearing a beige jailhouse jumpsuit, made a statement striking an apologetic tone, saying he had made a series of "selfish" decisions while leading FTX and "threw it all away."
"It haunts me every day," he said.
Prosecutors had sought as much as 50 years, while Bankman-Fried's legal team argued for no more than 6½ years. He was convicted on seven criminal counts in November and had been held at the Metropolitan Detention Center in Brooklyn ever since.
Bankman-Fried's lawyers had pleaded for leniency, citing what they described as mental health struggles and his purported generosity in his personal life. They also argued that FTX users had not ultimately suffered substantial losses — something current FTX administrator John Ray said was false in a letter to Kaplan in advance of Thursday's sentencing.
But prosecutors argued the brazenness of the crime, the extent of the victims' losses and damages and Bankman-Fried's evident lack of remorse meant a harsher sentence was warranted.
Late Tuesday, prosecutors filed documents from victims testifying about how Bankman-Fried's actions had harmed them.
“My whole life has been destroyed,” wrote one, whose name was redacted, in a letter dated March 15. “I have 2 young children, one born right before the collapse. I still remember the weeks following where I would stare blankly into their eyes, completely empty inside knowing their futures have been stolen through no fault of our own. I did not gamble on crypto. I did not make any crypto gains. I had my [bitcoin] which I had collected over years deposited on FTX as a custodian. I did not agree to the risk that SBF took with my funds.”
The man added he was suffering from depression and that his wife had become suicidal.
“I know we can never make that kind of money back ever again,” he wrote.
Another person wrote about how the loss of funds had affected numerous life plans, including a wedding.
“Each passing day is a painful reminder of the opportunities stolen from me, compounding feelings of hopelessness and despair," the person wrote. "The burden of financial ruin weighs heavily on my shoulders, leading me to grapple with constant thoughts of suicide and significantly impairing my ability to perform at work.”
In the recent annals of white-collar crime, Bankman-Fried's sentence is many years more than what most others found guilty had received. Theranos founder Elizabeth Holmes received about 11 years. Former WorldCom CEO Bernie Ebbers received 25 years. Former Enron CEO Jeff Skilling received 24 years.
!dramatards !r-slurs !fellas get in here!
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See as a person with an above room temp IQ, when I see "15% return on my deposited funds" and "your money is not insured" i assume some inherent risk.
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If people dont have coins in cold storage they are big regard
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Trump for prison
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"I didn't gamble on beanie babies, I just put all my life savings into them and gave them to this guy to hold in the hope that the price would skyrocket and I could get rich. Not gambling at all, no sir."
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the difference between buying shares of a company that goes bankrupt, and buying shares of a company that grows another 200% but your broker stole your shares to buy coke.
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what point are you trying to make?
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getting rich for being rslurred is still rslurred.
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sure. but if in 1997 you had $100k worth of beanie babies and someone stole them from you, you would be rightfully angry, even if there's a good chance you'd have held onto them for too long until after the bubble burst.
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yeah, that's all true and w/e but I'll still laugh at her for thinking she could retire on her Large Wallace portfolio
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Should have stored his bitcoin under a bird bath.
Not your wallet not your funds
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