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Democrat Megadonor Bankman-Fried Sentenced to 20 Years in Prison for FTX Fraud

March 28th, 2024
Categories: News

Link: https://slaynews.com/news/democrat-megadonor-bankman-fried-sentenced-to-20-years-in-prison-for-ftx-fraud/

Democrat megadonor Sam Bankman-Fried has just been sentenced to 20 years in prison by a judge for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded. | The sentencing is the last step in the former billionaire wunderkind’s dramatic downfall. On Thursday, U.S. District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing after rejecting Bankman-Fried’s claim that FTX customers did not actually lose money. Kaplan also accused Bankman-Fried of lying during his trial testimony. Aside from running FTX, Bankman-Fried was also the second largest donor to the Democrats after George Soros during the 2020 and 2022 election cycles. A jury found Bankman-Fried, 32, guilty on November 2 on seven fraud and conspiracy counts. The charges stem from FTX’s 2022 collapse.

Former FTX CEO Sam Bankman-Fried sentenced to 25 years in prison for fraud (UPI)

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