US prosecutors are seeking a 50-year prison sentence for the founder of the bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried (SBF).
As the final decision date for FTX’s founder Sam Bankman Fried approaches, US prosecutors have revealed their expectations regarding the penalty.
In the document presented by prosecutors on March 15, Bankman Fried is requested to be sentenced to 40 to 50 years in prison while also being fined 11 billion dollars and facing asset forfeiture. Asset forfeiture involves the seizure and transfer of all the assets and valuable properties acquired by SBF from FTX to the government.
In a court hearing in February, Bankman Fried’s lawyers had requested the sentence to be between 63 and 78 months. The final decision regarding SBF, who is currently being held in custody, is expected to be announced on March 28.
A US court had found SBF guilty of 7 different charges in November last year.
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