In a recent development, Sam Bankman-Fried’s defense attorney has made a plea to the judge to dismiss the proposed century-long imprisonment for the FTX founder, labeling such a punishment as “grotesque” and “barbaric.” The attorney argues that a more reasonable sentence would be a few years, considering the disputed cryptocurrency-related offenses.
The legal team contends that the Probation Department’s report has overstepped in its sentencing recommendation, which is a mere decade less than the maximum possible sentence of 110 years.
The case, which has garnered significant attention, is set to reach a pivotal moment on March 28 when Judge Lewis A. Kaplan is scheduled to deliver the sentence for Bankman-Fried, who is accused of defrauding investors and customers of a staggering $10 billion through his business ventures from 2017 to 2022.
His cryptocurrency trading platform, FTX, once lauded as a trailblazer in the industry, faced a dramatic downfall, leading to bankruptcy in November 2022.
Bankman-Fried, known for his laid-back attire and distinctive hair, was found guilty of fraud and conspiracy in a November trial. His attorney, Marc Mukasey, insists that the Probation Department has miscalculated the sentencing guidelines, advocating for a sentence that aligns with the guidelines suggesting a prison term of five to six and a half years.
The defense emphasizes Bankman-Fried’s philanthropic efforts and his dedication to societal welfare, suggesting that an expedited return to a constructive societal role would be the fitting sentence.
Mukasey has strongly criticized the Probation Department’s recommendation for a 100-year prison term, urging the judge to forgo what he deems a “barbaric proposal.”
He highlights that Bankman-Fried, at 31 years old, is a first-time, non-violent offender whose actions were part of a collective with at least four other individuals. Moreover, there is an expectation that the victims will fully recover their losses.
Previously, FTX enjoyed the status of being the world’s second-largest crypto exchange, with Bankman-Fried securing high-profile endorsements and advertising spots, such as a Super Bowl commercial. However, following his arrest, his communications were interpreted by the court as attempts to sway trial witnesses, resulting in his pre-trial incarceration.
