Sam Bankman-Fried seeks 5 years, shares crypto advice with guards

  • Legal counsel for former FTX CEO Sam “SBF” Bankman-Fried has requested a prison sentence of 5.25 to 6.5 years.
  • SBF’s sentencing is set for March 28. The Pre-sentence Investigation Report (PSR) suggested a 100-year sentence, which FTX’s lawyers called barbaric.
  • The New York Times reported that SBF has asked prison guards to invest in Solana, a cryptocurrency he has traded and invested in extensively.

Former FTX CEO Sam “SBF” Bankman-Fried’s legal counsel filed a memo in the US District Court for the Southern District of New York requesting a prison sentence of between 5.25 and 6.5 years.

FTX former CEO faces multiple charges, possible 100-year sentence

SBF was charged with two charges of wire fraud, two counts of conspiracy to commit wire fraud, one count each of securities fraud, commodities fraud, and money laundering.

The SBF case is being overseen by Judge Lewis Kaplan, who will pronounce the sentence on March 28.

The Pre-sentence Investigation Report (PSR) has suggested that the former CEO of FTX be given a 100-year sentence.

The attorneys for FTX contended that the PSR’s proposed 100-year sentence is savage, arguing  that SBF is a first-time offender with no prior criminal history and was involved in the conduct “by at least four other culpable individuals, in a matter where victims are poised to recover — were always poised to recover — a hundred cents on the dollar.”

Also read: Sam Bankman-Fried replaces legal team ahead of sentencing

SBF’s crypto proposal to prison guards

According to the New York Times, SBF is asking and requesting that prison guards invest in Solana’s, a cryptocurrency token that he has a lengthy history of trading and investing in.

SBF was found guilty of several other fraud crimes in addition to mismanaging $8 billion in client monies.

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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