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 discovered Bankman-Fried responsible of seven felony expenses associated to the collapse of the FTX crypto change, 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 yr, 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 really get.
Former federal prosecutor Renato Mariotti tells CNBC that Decide Lewis Kaplan won’t doubtless be lenient when he imposes the sentence.
“I wouldn’t be shocked if SBF spends the subsequent 20 or 25 years of his life in jail.”
Mariotti says Bankman-Fried will doubtless spend a few years behind bars due to the size 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 could 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 towards him.
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