Prosecutors said Sam Bankman-Fried should get as much as 50 years behind bars for his role in the collapse of his FTX cryptocurrency exchange in "what is likely the largest fraud of the last decade.”
A sentence ranging from 40 to 50 years is necessary for Bankman-Fried’s "historic” crime involving more than 1 million victims and losses of more than $10 billion, prosecutors said Friday in a court filing. The request is far less than the 100 years recommended in U.S. criminal sentencing guidelines, but much more than the 6½-years his lawyers suggested.
"In every part of his business, and with respect to each crime committed, the defendant demonstrated a brazen disrespect for the rule of law,” prosecutors said in the filing. "He understood the rules, but decided they did not apply to him.”