A former prosecutor with the U.S. Justice Division’s Securities and Commodities Fraud Part reportedly says that Sam Bankman-Fried could solely obtain about 25 years in jail.
On November 2nd, a jury of 12 discovered Bankman-Fried responsible of seven legal fees associated to the collapse of the FTX crypto trade, together with wire fraud, conspiracy to commit wire fraud and conspiracy to commit cash laundering.
Along with his sentencing scheduled for March twenty eighth of subsequent yr, Bankman-Fried faces a most of 115 years in jail, however authorized specialists are already weighing in on how a lot time the 31-year-old will truly get.
Former federal prosecutor Renato Mariotti tells CNBC that Choose Lewis Kaplan is not going to doubtless be lenient when he imposes the sentence.
“I wouldn’t be stunned if SBF spends the subsequent 20 or 25 years of his life in jail.”
Mariotti says Bankman-Fried will doubtless spend a few years behind bars due to the dimensions of his crimes and his conduct throughout the trial.
“The sheer scale of his fraud was immense, he was defiant and lied on the witness stand, and Choose Kaplan had little or no persistence for his antics whereas out on bond. He could have extra sympathy for the victims than he has for Bankman-Fried.”
In August, Kaplan revoked the previous Jane Avenue dealer’s $250 million bail after the prosecution sought his detention over a sequence of violations together with contacting potential witnesses in opposition to him.
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