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Breaking: Judge Sentences FTX Founder Sam Bankman-Fried to 20 Years in Prison, Fined $11 Billion
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Disgraced FTX founder Sam Bankman-Fried has been sentenced to 24 years in prison and an $11 billion fine, Judge Lewis A. Kaplan ruled in Manhattan federal courthouse Thursday morning.
Kaplan likened Bankman-Fried’s theft of nearly $8 billion in customer funds to “a game,” where he weighed “the cost of getting caught against the probability of not getting caught.”
“That was his game,” Kaplan said. “It’s in his nature.”
Bankman-Fried was convicted on seven fraud charges in November 2023 after a whirlwind trial that saw the FTX founder testify in his own defense.
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