Sam Bankman-Fried was sentenced to 25 years in prison on Thursday by Manhattan Federal Judge Lewis Kaplan.
Ajury found Bankman-Fried guiltyof one of the largest white-collar crimes in history roughly five months ago.
The 32-year-old could be in jail until hes 57.
Photo: Stephanie Keith/Bloomberg (Getty Images)
Mr. Bankman-Fried knew that Alameda was spending customer funds on risky investments, political contributions and Bahamas real estate.
The funds were not his to use.
A federal judge found that Bankman-Fried committed perjury three times, lying under oath, during his criminal trial.
This is not factual and gives SBF credit for factors outside of his control.
A thief who takes his loot to Las Vegas and successfully bets is not entitled to a sentencing reduction.
SBFs defense painted him as a naive, genius entrepreneur who got in over his head.
I am sorry, said Bankman-Fried, addressing the court Thursday.
I am sorry about what happened at every stage.
And there are things I shouldve done and things I shouldnt have.
The personal chaos of Bankman-Fried was on full display through the collapse of FTX.
TheCEOs Adderal prescriptionand drug use became a central component of the legal proceedings.
SBFs fraud caused a connection of bankruptcies,regulations, and financial toil that cryptocurrency is just nowrecoveringfrom.
The founder of FTX and Alameda claimed to be largely ignorant of the inner workings of his companies.
Former Alameda Research CEO Caroline Ellison testified for the prosecution, saying SBF directed her to commit certain crimes.
SBF also asked Ellison to create alternate presentations of Alamedas finances when the company was in massive debt.
Bankman-Frieds lawyer, Marc Mukasey noted they would appeal this ruling.
Its unclear when that appeal would happen, though it appears unlikely to change the outcome of this case.
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