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Federal prosecutors are asking that Sam Bankman-Fried<\/a>, the disgraced cofounder of bankrupt crypto exchange FTX<\/a>, be sentenced to 40 to 50 years in prison, according to a sentencing memo<\/a> on Friday. <\/p>\n \u201cJustice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes<\/a>,\u201d the prosecutors wrote in the 116-page document. The recommendation was made in a filing to Judge Lewis A. Kaplan in U.S. District Court in Manhattan.<\/p>\n Bankman-Fried was found guilty<\/a> of seven fraud charges in November and is scheduled to be sentenced on March 28. The maximum possible penalty is 110 years.<\/p>\n NEW \u2014 The sentencing memo from the federal government against Sam Bankman-Fried just dropped.<\/p>\n They want him to go away to prison for 40 to 50 years.https:\/\/t.co\/EUIGAt3lxi<\/a> pic.twitter.com\/kIwGJUyVEt<\/a><\/p>\n \u2014 Teddy Schleifer (@teddyschleifer) March 15, 2024<\/a><\/p><\/blockquote>\n <\/p>\n In another filing<\/a> last month, Bankman-Fried\u2019s attorneys argued that he should receive a sentence of no more than 6 1\/2 years<\/a> due to his autism spectrum disorder. Bankman-Fried, his lawyers said, \u201cpresents at times as a paradox,\u201d pointing to his \u201cneurodiversity\u201d that affects how he\u2019s perceived. The memo was accompanied by letters of support from Bankman-Fried\u2019s parents and psychiatrist, among others.<\/p>\n Joseph Bankman and Barbara Fried, who\u2019ve taught at Stanford Law School, said material wealth did not interest their son, who worked tirelessly to repay customers in the month following FTX\u2019s November 2022 collapse, prior to his arrest. Bankman-Fried is \u201cdeeply, deeply sorry\u201d for \u201cthe pain he caused over the last two years,\u201d the memo said. \u201cHis sole focus after the collapse of FTX was making customers whole.\u201d<\/p>\n The rise and fall of Bankman-Fried\u2019s crypto empire has captured international attention. FTX once graced Super Bowl commercials and carried a valuation north of $30 billion, and the disgraced mogul oversaw a Bahamas<\/a>-based exchange that attracted top venture capitalists<\/a> and celebrities<\/a> before the walls tumbled amid a broader crypto collapse in 2022.<\/p>\n Bankman-Fried is awaiting sentencing in Brooklyn\u2019s Metropolitan Detention Center<\/a>. Kaplan revoked his bail in August and sent him to MDC after he leaked private writings<\/a> from Caroline Ellison\u2014his one-time girlfriend and former CEO of FTX\u2019s trading firm, Alameda Research\u2014to the New York Times<\/em>.<\/p>\n<\/div>\n\n\n
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