Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

Published March 27, 2024 9:18 pm

By KEN SWEET and LARRY NEUMEISTER
Associated Press

NEW YORK (AP) — FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison for a cryptocurrency fraud that a prosecutor has described as one of the biggest financial frauds in U.S. history. Federal Judge Lewis A. Kaplan imposed the sentence Thursday in a packed Manhattan courtroom. The 32-year-old Bankman-Fried was convicted in November of fraud and conspiracy charges brought after his once-soaring cryptocurrency trading platform and related companies collapsed into bankruptcy. Bankman-Fried was extradited to the U.S. in December 2022, five years after he started his businesses with plans to revolutionize the emerging cryptocurrency industry.

Article Topic Follows: AP National News

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The Associated Press

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