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Sam Bankman-Fried’s Punishment To Be Limited to 6.5 Years

Sam Bankman-Fried’s Punishment To Be Limited to 6.5 Years

CoineditionCoinedition2024/02/28 12:16
By:Nynu V Jamal
  • Sam Bankman-Fried’s lawyers request the court for a maximum of 6.5 years of prison sentence for him.
  • The lawyers recommend the judge consider Bankman-Fried’s charitable deeds and societal commitment.
  • Asserting that his accounts were not for his personal gains, the lawyers requested the court not to forfeit any assets.

The ill-famed Sam Bankman-Fried’s lawyers requested the court to limit his imprisonment to a maximum of 6.5 years. In a 98-page memo submitted on Tuesday, the lawyers requested U.S. District Judge Lewis A. Kaplan to mitigate the punishment while the judge could issue a longer sentence of 20 years.

The lawyers recommended the court consider Bankman-Fried’s charitable activities and other deeds that demonstrate his societal commitments. The memo questioned the unsympathetic descriptions of Bankman-Fried. Allegedly, the FTX founder was labeled a “sociopath” and a man with “no morals, remorse or empathy.” He was also addressed as “one of history’s most notorious fraudsters.”

However, the lawyers tried to surface the “selfless, altruistic” Bankman-Fried, who “cares deeply about other people.” In the memo, the lawyers asserted that the accused was indeed someone who “has always been dedicated to doing good in the world.” Thus, the lawyers pleaded to the judge to take into account Bankman-Fried’s good deeds and shorten the sentencing period to bring him back to play his “productive role in society.”

Colin Wu, a Chinese crypto reporter, wrote on his Wu Blockchain page on X about the lawyers’ suggestion of 63-78 months of prison sentence for the FTX founder. The lawyers’ request was based on “factors such as SBF’s early life, university education, Wall Street experience, the founding of Alameda and FTX, philosophy and philanthropy, and motives other than greed.”

Bankman-Fried was arrested for allegedly committing conspiracy and fraud, amassing millions of company assets for his personal gains. Nonetheless, his lawyers asserted that none of the identified accounts were for his personal benefit and requested not to forfeit any assets.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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