BLOOMBERG ¨C Prosecutors said Sam Bankman-Fried should get as much as 50 years behind bars for his role in the collapse of his FTX cryptocurrency exchange in ¡°what is likely the largest fraud of the last decade.¡±
A sentence ranging from 40 to 50 years is necessary for Bankman-Fried¡¯s ¡°historic¡± crime involving more than 1 million victims and losses of more than $10 billion, prosecutors said Friday in a court filing. The request is far less than the 100 years recommended in U.S. criminal sentencing guidelines, but much more than the 6?-years his lawyers suggested.
¡°In every part of his business, and with respect to each crime committed, the defendant demonstrated a brazen disrespect for the rule of law,¡± prosecutors said in the filing. ¡°He understood the rules, but decided they did not apply to him.¡±
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