_sam-bankman-fried-sentenced-for-role-in-the-demise-of-ftx.jpg "Sam Bankman-Fried sentenced for role in the demise of FTX from haircut prison scene Video Screenshot Preview")
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⏲ Duration: 1:49
👁 View: 45K times
✓ Published: 28-Mar-2024
👁 View: 45K times
✓ Published: 28-Mar-2024
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TheStreet’s J.D. Durkin brings you the biggest news of the day, including what investors are watching and Sam Bankman-Fried’s prison sentence.
TheStreet’s J.D. Durkin brings you the biggest news of the day, including what investors are watching and Sam Bankman-Fried’s prison sentence.
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_sam-bankman-fried-sentenced-for-role-in-the-demise-of-ftx.webp "TheStreet’s J.D. Durkin brings you the biggest news of the day, including what investors are watching and Sam Bankman-Fried’s prison sentence.")
_sam-bankman-fried-sentenced-to-25-years-for-ftx-fraud.webp "Sam Bankman-Fried , Sentenced to 25 Years , for FTX Fraud.<br/>On March 28, Sam Bankman-Fried was sentenced to <br/>25 years in prison after being found guilty of defrauding <br/>users of FTX, the now-collapsed cryptocurrency exchange. .<br/>NBC reports that Lower Manhattan federal district <br/>Judge Lewis Kaplan found the defense's arguments <br/>misleading, speculative and logically flawed.<br/>The judge accused Bankman-Fried of committing <br/>obstruction of justice and tampering with <br/>witnesses while mounting his defense.<br/>Kaplan reportedly said that those <br/>factors played a role in his decision <br/>about how to sentence Bankman-Fried.<br/>Prosecutors had originally sought a longer sentence <br/>of 50 years, while the defense fought for <br/>Bankman-Fried to get no more than six and a half years.<br/>Prosecutors had originally sought a longer sentence <br/>of 50 years, while the defense fought for <br/>Bankman-Fried to get no more than six and a half years.<br/>In November, Bankman-Fried was convicted on seven <br/>criminal counts. He has been held at Brooklyn's <br/>Metropolitan Detention Center while awaiting sentencing.<br/>In November, Bankman-Fried was convicted on seven <br/>criminal counts. He has been held at Brooklyn's <br/>Metropolitan Detention Center while awaiting sentencing.<br/>At one time, FTX was valued at over $30 billion <br/>but ultimately collapsed in November of <br/>2022 after announcing a major cash shortfall.<br/>At one time, FTX was valued at over $30 billion <br/>but ultimately collapsed in November of <br/>2022 after announcing a major cash shortfall.<br/>While on trial, Bankman-Fried was accused <br/>of robbing FTX customers of nearly $8 billion, <br/>which was partially used to fund the extravagant <br/>lifestyles of the exchange's executives.<br/>While on trial, Bankman-Fried was accused <br/>of robbing FTX customers of nearly $8 billion, <br/>which was partially used to fund the extravagant <br/>lifestyles of the exchange's executives.<br/>NBC reports that Bankman-Fried's sentence <br/>is harsher than other white-collar crimes <br/>in recent memory, such as Theranos founder <br/>Elizabeth Holmes who received just 11 years.<br/>NBC reports that Bankman-Fried's sentence <br/>is harsher than other white-collar crimes <br/>in recent memory, such as Theranos founder <br/>Elizabeth Holmes who received just 11 years.<br/>The outlet also notes that the judgement is more <br/>similar to the 25-year sentence given to former <br/>WorldCom CEO Bernie Ebbers or the 24-year <br/>sentence given to Enron CEO Jeff Skilling.<br/>The outlet also notes that the judgement is more <br/>similar to the 25-year sentence given to former <br/>WorldCom CEO Bernie Ebbers or the 24-year <br/>sentence given to Enron CEO Jeff Skilling")
_sam-bankman-fried-sentenced-to-25-years-judge-points-to-ambition-political-manipulation.webp "Judge Kaplan sentences Sam Bankman-Fried to 25 years for significant financial crimes, emphasizing the case's seriousness.<br/><br/>Kaplan criticizes SBF for his exceptional ambition, misuse of political contributions, and lack of remorse for his actions.")
⏲ 1:8 👁 175K
_why-sam-bankman-fried-received-a-25-year-prison-sentence.webp "Sam Bankman-Fried, the former billionaire who was found guilty of defrauding customers and investors of his cryptocurrency exchange FTX, was sentenced to 25 years in prison on Thursday by a federal judge, who ruled that Bankman-Fried committed perjury and attempted witness tampering.")
_ftx-founder-sam-bankman-fried-sentenced-to-25-years-in-prison-for-massive-fraud-and-conspiracy.webp "FTX founder Sam Bankman-Fried was sentenced to 25 years in prison for the massive fraud and conspiracy that doomed his cryptocurrency exchange FTX and a related hedge fund, Alameda Research. Prosecutors had wanted 40-50 years in prison, while Bankman-Fried’s lawyers suggested only 5-6.5 years. Bankman-Fried acknowledged making “selfish decisions” and said watching the effects on customers and former colleagues “haunts him daily.” The judge found over $550 million in losses and that Bankman-Fried had committed perjury and obstructed justice, increasing the maximum sentencing guidelines.")
⏲ 0:51 👁 860K
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