Sam Bankman-Fried’s lawyer is strongly opposing a suggested 100-year prison sentence for the FTX founder, calling it “grotesque” and “barbaric.”
Instead, the attorney argued on Tuesday for a shorter term of a few years behind bars, which they believe is more appropriate for the cryptocurrency crimes Bankman-Fried still disputes.
Bankman-Fried’s legal team stated that a sentence of 63 to 78 months would be more fitting, considering his medical conditions, including autism, and his aspirations to make a positive impact on the world through his former crypto exchange, which is now defunct.
FTX founder Sam Bankman (Credits: Euronews.com)
Marc Mukasey, one of Bankman-Fried’s attorneys, criticized a report by Probation officers, claiming it improperly calculated federal sentencing guidelines to recommend a sentence just 10 years shy of the maximum potential 110-year sentence.
Bankman-Fried, who is 31 years old, has consistently asserted his innocence following the collapse of FTX, the crypto exchange he helped create, amidst an $8 billion shortfall in funds.
He has faced allegations of using customer money to support his struggling hedge fund, Alameda Research. In November, he was found guilty on seven counts of fraud, conspiracy, and money laundering.
Judge Lewis A. Kaplan is scheduled to sentence Bankman-Fried on March 28. Prosecutors have accused him of defrauding investors and customers of at least $10 billion in businesses he controlled from 2017 to 2022.
