Former CEO of FTX Sam Bankman charges 40 to 50 years in prison

[Cryptocrit]

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Former cryptocurrency billionaire Sam Bankman-Fried is facing between 40 and 50 years in prison due to crypto scam

In November 2023, Sam Bankman-Fried the CEO of FTX (cryptocurrency exchange), was found guilty of some really serious stuff. The charges against him was fraud, conspiracy, and money laundering. It's a big deal because the prosecutors say these crimes involved a ton of money and hurt lots of people, over a million, in fact.

The prosecutors think that Bankman-Fried came up with a plan to trick investors, customers, and lenders. They say this plan caused FTX to fall apart. That's a big accusation!

Because of how serious these accusations are, the prosecutors are asking for a really tough punishment. They want Bankman-Fried to spend between 40 and 50 years in prison.

Continue reading....
https://www.cryptocrit.xyz/2024/03/sam-bankman-in-prison.html

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[moneystery]

he deserves this punishment, because he is the main perpetrator behind the destruction of ftx and the loss of money from thousands of customers. and it was because of him that the crypto market experienced a bear market and this resulted in the loss of billions of dollars from the crypto market. because of these things he is well suited to be imprisoned for decades for these matters.

[Vod]

Interesting read, sounds a lot like what Theymos did with all the bitcoins that were donated to improve bitcoin. 

[Volimack]

Sam Bankman the former CEO of FTX deserves this punishment for defrauding many customers. Using money from customers and investors the defendant bought luxury real estate. He made risky investments. He did not pay them back which he otherwise could not have afforded. He also used other people's money to donate to charity for which he still took loans from political leaders. Made political contributions by using other people's money to gain uncontested access.

[boyptc]

Like everyone has said, he deserve that. I can think of that he probably even thought that it's coming to him when he's doing all of those frauds.

And anyone that has been associated to him and had taken benefit from his scheme and even the family relatives that has got assets from the victims should taken all of them or if they don't obliged to return back all of those assets.

Then, they should just be charged for being an accomplice.