Cryptocurrencies
Bankman-Fried Is Sentenced to 25 Years in Prison Over FTX Collapse
- Judge also says FTX co-founder must forfeit $11 billion
- Bankman-Fried can appeal; there is no option for parole
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FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing billions of dollars from customers, marking the final chapter in a case that has upended the crypto industry.
US District Judge Lewis A. Kaplan delivered the sentence in federal court in Manhattan moments after Bankman-Fried said he was “sorry about what happened at every stage.” He was convicted last year of seven offenses, including fraud and conspiracy.