Sam Bankman-Fried’s Lawyers Advocate for 63 to 78 Months Prison Sentence
According to the defense, a decades-long sentence would severely impede Bankman-Fried's ability to lead a meaningful life and continue contributing to society, particularly to those in need.
In a recent court filing, the defense team of Sam Bankman-Fried, the former CEO of the defunct crypto exchange FTX, has requested a U.S. court to consider a prison sentence ranging from 63 to 78 months. This request comes in light of Bankman-Fried's conviction for defrauding investors, with the court filing emphasizing factors such as his morality and philanthropic dedication, according to report by The Block.
The filing proposes a method for arriving at the suggested sentence, which involves considering an Adjusted Offense Level of 56, reduced by 30 levels based on zero loss, resulting in an advisory Guidelines range of 63-78 months. Bankman-Fried's defense team has vehemently objected to the pre-sentence report's recommendation of a 100-year sentence, describing it as "grotesque."
Furthermore, the court filing contests several elements of the pre-sentence report, including the estimation of $10 billion as the amount lost in the bankruptcy, which the defense team deems unreasonable. It also underscores Bankman-Fried's upbringing, morality, attention to philanthropy, and asserts that his conduct was never driven by greed or pursuit of status.
According to the defense, a decades-long sentence would severely impede Bankman-Fried's ability to lead a meaningful life and continue contributing to society, particularly to those in need.
Bankman-Fried was found guilty by a New York jury last year for defrauding investors of FTX and Alameda Research, with prosecutors labeling it as "one of the biggest financial frauds in U.S. history." As the U.S. court prepares to sentence him next month, the defense's plea for a reduced prison term underscores the complexity and gravity of the case surrounding the prominent figure in the cryptocurrency industry.
