A former prosecutor in the U.S. Department of Justice’s Securities and Commodities Fraud Section reportedly says Sam Bankman-Fried may only get about 25 years in prison.
On November 2, a 12-person jury found Bankman-Fried guilty of seven criminal charges related to the collapse of the FTX crypto exchange, including wire fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering.
With his sentencing scheduled for March 28 next year, Bankman-Fried faces a maximum prison sentence of 115 years, but legal experts are already considering how much time the 31-year-old will actually get.
This is what former federal prosecutor Renato Mariotti says CNBC that Judge Lewis Kaplan is unlikely to be lenient when he imposes the sentence.
“I wouldn’t be surprised if SBF spends the next twenty to twenty-five years of his life in prison.”
Mariotti says Bankman-Fried will likely spend many years behind bars due to the extent of his crimes and his conduct during the trial.
“The extent of his fraud was enormous, he was defiant and lied on the witness stand, and Judge Kaplan had very little patience for his antics while on bail. He will have more sympathy for the victims than for Bankman-Fried.”
In August Kaplan withdrawn the former Jane Street trader’s $250 million bail after prosecutors sought his arrest for a series of violations, including contacting potential witnesses against him.
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