{"id":90244,"date":"2024-03-22T23:55:39","date_gmt":"2024-03-23T03:55:39","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=90244"},"modified":"2024-03-22T23:55:40","modified_gmt":"2024-03-23T03:55:40","slug":"how-many-years-will-sam-bankman-fried-get-in-prison-really","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=90244","title":{"rendered":"How Many Years Will Sam Bankman-Fried Get In Prison, Really?"},"content":{"rendered":"
\n
\n
\n
\n
\n

\n Last updated:<\/span>
\n

<\/figcaption>

Set to be sentenced next week, disgraced FTX founder Sam Bankman-Fried is facing charges that carry a total maximum penalty of over 100 years in prison \u2013 but what sentence will he actually get?<\/span><\/p>\n

In the defense\u2019s sentencing recommendation released late last month, Bankman-Fried\u2019s camp pushed for a maximum prison sentence of just over six years, citing his age and \u201cgenuine concern\u201d about other people.<\/span><\/p>\n

SBF Facing What Could Amount To A Life Sentence<\/h3>\n

In their own sentencing recommendation released shortly thereafter, prosecutors argued that a six-year sentence <\/span>would be \u201cwoefully inaccurate\u201d and \u201csend the wrong message to the defendant, to others considering committing fraud, to victims, and to society at large,\u201d recommending a prison term of 40 to 50 years for the FTX fraudster.<\/span><\/p>\n

\u201cBankman-Fried\u2019s crimes were serious and long-running, causing billions of dollars in losses and significant harm to tens of thousands of victims financially and emotionally,\u201d prosecutors argued. \u201cThe sheer enormity of the loss in this case, and the fact that the loss came in the form of stealing of victims\u2019 money, puts Bankman-Fried in a category of defendants where sentences of forty years or more is appropriate.\u201d<\/span><\/p>\n

Former U.S. Assistant Attorney and white-collar crime expert Kevin J. O\u2019Brien thinks neither of those sentences is likely given that the presiding judge is Judge Lewis A. Kaplan, however.<\/span><\/p>\n

\u201cKaplan\u2019s tough \u2013 and he has that reputation \u2013 but he\u2019s not nasty,\u201d O\u2019Brien said in an interview with Cryptonews. \u201cI don\u2019t think he\u2019s effectively going to put the guy away for the rest of his adult life. He\u2019s going to give him an opportunity to make amends and live a meaningful life outside of prison.\u201d<\/span><\/p>\n

Is The Defense\u2019s Argument Too Good To Be True?<\/h2>\n

<\/span>
In their sentencing recommendation, the defense attempted to compare Bankman-Fried to \u201cjunk bond king\u201d turned philanthropist Michael Milken and Theranos CEO Elizabeth Holmes, who received 11 and seven years in prison, respectively.<\/span><\/p>\n

\n

Sorry, but this is psychotic. I get that Sam Bankman-Fried is wildly unsympathetic. But there is no sane reason taxpayers need to keep him locked in a cage until he\u2019s in his 80s. We are totally desensitized to excessively long prison terms in this country. https:\/\/t.co\/5BHW7lCTDX<\/p>\n

\u2014 Billy Binion (@billybinion) March 15, 2024<\/a><\/p>\n<\/blockquote>\n

O\u2019Brien is unsure whether those comparisons will necessarily work in the eyes of the law, however.<\/span><\/p>\n

\u201cThose are smart arguments but there are differences between his case and those cases,\u201d\u00a0<\/span>said O\u2019Brien, noting that the \u201csize of the damage was much higher in his case.\u201d<\/span><\/p>\n

Similarly, O\u2019Brien pointed out that Milken\u2019s \u201cgood works\u201d only occurred after his \u201cexit from prison.\u201d<\/span><\/p>\n

\u201cIt\u2019s kind of hard for Bankman-Fried to try to bank on that before he\u2019s even sentenced,\u201d O\u2019Brien continued.<\/span><\/p>\n

Judge Kaplan Will Do What He Thinks Is Right, O\u2019Brien Says<\/h2>\n

<\/span>
O\u2019Brien\u2019s comments come amid the March 20 appointment of Unabomber prosecutor Robert J. Cleary by a U.S. bankruptcy judge to probe into the collapse of FTX and its potential conflicts of interest with law firm Sullivan and Cromwell.\u00a0<\/span><\/p>\n

Current FTX CEO John J. Ray III has vocally opposed the approval of an independent examiner, citing current management\u2019s independence from the FTX fraudsters.<\/span><\/p>\n

\u201cThere\u2019s a certain amount of politics here because of the responsibility of management for this mess,\u201d O\u2019Brien said of the legal saga, calling it \u201cvery much an issue.\u201d<\/span><\/p>\n

In addition to the parties\u2019 sentencing recommendations, Kaplan will have to follow the U.S. government\u2019s federal sentencing guidelines. If he gives Bankman-Fried a sentence that is too much lower than the recommended punishment, the government could appeal his decision.<\/span><\/p>\n

\u201cOf course, Kaplan probably doesn\u2019t care,\u201d O\u2019Brien said. \u201cHe\u2019s going to do what he thinks is right.\u201d<\/span><\/p>\n

When asked how long Bankman-Fried\u2019s sentence could be, O\u2019Brien claimed he could see the former \u201cking of crypto\u201d land up to two decades in prison.<\/span><\/p>\n

\u201cI wouldn\u2019t be surprised if Sam Bankman-Fried got 15 years,\u201d he estimated.<\/span><\/p>\n

The FTX founder is currently being held at Metropolitan Detention Center in Brooklyn, New York. His sentencing is scheduled for March 28 in Manhattan.<\/span><\/p>\n

Investigative findings from Cleary\u2019s independent examination are due back in court within 60 days.<\/span><\/p>\n<\/p><\/div>\n