Skip to playerSkip to main contentSkip to footer
  • 2/28/2024
Sam Bankman-Fried has asked for a lenient sentence after being found guilty of fraud related to the collapse of the FTX cryptocurrency exchange. His lawyer requested a sentence in the range of 5-6.5 years, significantly less than the maximum 110 years he faces. Bankman-Fried pleaded not guilty but acknowledged mistakes, claiming he never intended to steal customer funds. His lawyer cited FTX's claim it expects to repay all customers, arguing Bankman-Fried intended to pay funds back. Sentencing is scheduled for March 28th, while the prosecution will submit its recommendation by March 15th.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Sam Bankman-Fried is asked for a lenient sentence after being found guilty of fraud related to the
00:06 collapse of FTX cryptocurrency exchange. His lawyer requested a sentence in the range of
00:11 5 to 6 and a half years, significantly less than the maximum 110 years he faces.
00:15 Bankman-Fried pleaded not guilty but acknowledged mistakes,
00:18 claiming he never intended to steal customer funds. His lawyer cited FTX's claim and expects
00:22 to repay all customers, arguing Bankman-Fried intended to pay funds back. Sentencing is
00:27 scheduled for March 28th while the prosecution will submit its recommendation by March 5th.
00:31 For all things money, visit Benzinga.com

Recommended