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Sam Bankman-Fried FTX

Sam Bankman-Fried’s Lawyers Propose Sentencing Limit For $8 Billion FTX Fraud

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in FTX, Sam Bankman-Fried
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The lawyers of the former CEO of the defunct crypto exchange FTX, Sam Bankman-Fried (SBF), have proposed to the court how many years their client should spend in prison. As part of the argument, the legal experts explained why SBF should not get the statutory maximum sentence of over 100 years.  

Bankman-Fried’s Lawyers Propose A Sentencing Limit Of 78 Months

According to the court filing, Sam Bankman-Fried’s lawyers requested that the defendant get a sentence between 63 months (5 years) and 78 months (six and a half years). Having been convicted of all seven charges leveled against him, the FTX founder faces up to 100 years in prison. However, his lawyers argue that a maximum sentence of six years is a “just sentence” for their client. 

Related Reading: Ripple CTO Allays Fears Of XRP Price Drop When AMM Feature Launches

In support of their request, the lawyers asked the court to consider Bankman-Fried’s charitable works and demonstrated commitment to others. They further noted that “a sentence that returns Sam promptly to a productive role in society would be sufficient, but not greater than necessary, to comply with the purposes of sentencing.”

In other words, they argued that the purpose of sentencing in this case should be rehabilitation and not punishment. Bankman-Fried’s lawyers described him as a brilliant, complex and humane person with more use in the outside world than in prison. The legal team, led by Marc Mukasey, also claimed that SBF isn’t the “evil genius” depicted in the media or the “greedy villain” he was portrayed as at trial.

Rich Cooper, a former SDNY (Southern District of New York) Prosecutor, previously echoed similar sentiments when he opined that the statutory maximum sentence might be unfair considering Bankman-Fried’s age. He also suggested that Sam Bankman-Fried, unlike Bernie Madoff, wasn’t greedy since he didn’t misappropriate the funds for personal use. 

Sam Bankman-Fried Ask Court To Reject “Barbaric” PSR

Bankman-Fried’s lawyers also asked the court to reject the Presentence Report (PSR), calling it “barbaric.” As part of the sentencing process, the probation officer submitted the report to the court, where they recommended that Judge Lewis Kaplan sentence SBF to 100 years in prison. 

Related Reading: Crypto Exchange Reveals When The XRP Price Will Reach $500

Describing the recommendation as “grotesque,” the defendant’s lawyers argued that a 100-year sentence “should be reserved for the kind of heinous conduct” like the El-Hage’s case, which involved a terrorist that conspired to kill Americans. 

They added that Sam Bankman-Fried was undeserving of a 100-year sentence because he was a “first-time, non-violent offender” who didn’t act alone in misappropriating FTX’s customers’ funds. Meanwhile, they also tried to reduce the severity of the crime, highlighting the fact that customers were still going to recover their money. 

FTT Token price chart from Tradingview.com 
(FTX Sam Bankman-Fried)

FTT Token holding above $1.7 | Source: FTTUSDT on Tradingview.com
Featured image from CoinGape, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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