LIVE: Sam Bankman-Fried Returns to New York Courthouse for Sentencing in FTX Fraud Case
Bankman-Fried was convicted on seven different fraud and conspiracy charges last year.
Bankman-Fried was convicted on seven different fraud and conspiracy charges last year.
Bankman-Fried’s sentencing kicks off in a few hours.
He faces decades in prison.
The value of FTX’s FTT token surged 10% on the news.
Bankman-Fried was found guilty of fraud last year and will be sentenced on March 28.
Ray said Bankman-Fried’s victims “will never be returned to the same economic position they would have been in today absent his colossal fraud.”
SBF’s former customers have weighed in.
Bankman-Fried’s defense team attacked prosecutors’ lengthy prison term recommendation in a new letter Tuesday.
Bankman-Fried will be sentenced later this month.
The London-based firm says the creditor promised to fork over two FTX accounts, only to back out of the deal after the value of its claims skyrocketed.