A former prosecutor with the U.S. Justice Division’s Securities and Commodities Fraud Part reportedly says that Sam Bankman-Fried might solely obtain about 25 years in jail.
On November 2nd, a jury of 12 found Bankman-Fried responsible of seven prison expenses associated to the collapse of the FTX crypto trade, together with wire fraud, conspiracy to commit wire fraud and conspiracy to commit cash laundering.
Together with his sentencing scheduled for March twenty eighth of subsequent 12 months, Bankman-Fried faces a most of 115 years in jail, however authorized consultants are already weighing in on how a lot time the 31-year-old will truly get.
Former federal prosecutor Renato Mariotti tells CNBC that Decide Lewis Kaplan is not going to doubtless be lenient when he imposes the sentence.
“I wouldn’t be shocked if SBF spends the following 20 or 25 years of his life in jail.”
Mariotti says Bankman-Fried will doubtless spend a few years behind bars due to the dimensions of his crimes and his habits throughout the trial.
“The sheer scale of his fraud was immense, he was defiant and lied on the witness stand, and Decide Kaplan had little or no persistence for his antics whereas out on bond. He may have extra sympathy for the victims than he has for Bankman-Fried.”
In August, Kaplan revoked the previous Jane Avenue dealer’s $250 million bail after the prosecution sought his detention over a collection of violations together with contacting potential witnesses in opposition to him.
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