Former genius boy may be sentenced to 40 years in prison!
Shock! Former crypto billionaire Sam Bankman-Fried (SBF) could face 40-50 years in prison!
The 32-year-old “genius” is accused of defrauding investors and customers at the cryptocurrency exchange he ran, FTX, stealing billions of dollars.
Prosecutors said SBF used his influence and wealth to orchestrate a years-long fraud scheme that ultimately led to FTX's bankruptcy and the loss of tens of thousands of investors.
They considered SBF's crimes "one of the largest financial frauds in history."
Review events:
In November 2022, SBF was charged and found guilty on seven counts, including fraud and money laundering.
Prosecutors believe SBF deliberately defrauded investors and clients and used its authority to divert funds for personal investments and political donations.
SBF denies all charges and says it is innocent.
Sentencing will be announced on March 28.
