Sam Bankman-Fried’s sentence of 25 years puts him in the same league as other well-known financial fraudsters, including, clockwise from upper left, Bernie Madoff, Lawrence Duran, Bernie Ebbers, Allen Stanford and Jeffrey Skilling. – MarketWatch photo illustration/Getty Images With a sentence of 25 years in prison, Sam Bankman-Fried joins a list of notorious white-collar criminals […]
Sam Bankman-Fried, the jailed founder of bankrupt cryptocurrency exchange FTX, sits with his lawyers Torrey Young and Marc Mukasey.REUTERS/Jane Rosenberg Sam Bankman-Fried’s lawyers claimed that FTX customers had “zero” losses when the exchange collapsed. They argued in favor of a light sentence for the convicted crypto mogul on Thursday. The judge was not persuaded. The federal […]
FTX CEO John J. Ray III, who is representing the creditors seeking billions in restitution from the defunct crypto trading firm, submitted on their behalf a victims’ statement to Judge Lewis A. Kaplan ahead of Sam Bankman-Fried’s sentencing on March 28, 2024. Bankman-Fried was convicted on seven counts of defrauding investors. Ray did not mince […]
A federal judge on Thursday sentenced Sam Bankman-Fried to 25 years in prison for his leading role in one of the biggest financial scandals in American history, capping the stunning fall of the former cryptocurrency magnate and one-time Washington megadonor. Judge Lewis Kaplan of the Southern District of New York handed down the sentence almost […]
By Luc Cohen and Jody Godoy NEW YORK (Reuters) -Sam Bankman-Fried apologized to his former colleagues at the now-bankrupt FTX cryptocurrency exchange he founded at his sentencing hearing on Thursday, as the former billionaire wunderkind braces for the prospect of decades behind bars. A jury found Bankman-Fried, 32, guilty on Nov. 2 on seven fraud […]
Sam Bankman-Fried will learn his sentence Thursday, four months after he was found guilty of orchestrating the multibillion-dollar fraud that prompted the collapse of the FTX cryptocurrency exchange. Bankman-Fried, 32, was convicted in November by a jury on each of the two counts of fraud and five counts of conspiracy he was facing. He has […]
FTX co-founder Sam Bankman-Fried will learn Thursday how much prison time he will get after being convicted of defrauding his customers, investors, and lenders. The entrepreneur who presided over the largest crypto collapse in history faces up to 110 years. Prosecutors have requested a sentence of 40 to 50 years, while Bankman-Fried’s lawyers asked for […]
MOUNT HOLLY – A Willingboro man held in pretrial detention for 4½. years has been cleared of a murder charge. Sam T. Gore, 30, was arrested in September 2019, one week after the fatal shooting of DeAsia Ayres, a Willingboro woman, in an apparent robbery. A Superior Court jury found Gore not guilty of murder, […]
Sam Altman is already a tech titan. Somehow, at 38, he’s been coding for three decades, and with the advent of ChatGPT and (more recently) Sora, he’s quickly amassed nearly as much hype and influence as Elon Musk and Mark Zuckerberg. As OpenAI‘s CEO, Altman is widely considered to be the face of artificial intelligence, […]
By Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried is delusional in claiming the possibility customers of now-bankrupt FTX cryptocurrency exchange may recover funds means he did not steal, his successor as CEO said on Wednesday. Bankman-Fried was convicted in November of stealing $8 billion from FTX customers. In a so-called victim impact statement filed in […]
By Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried is delusional in claiming the possibility customers of now-bankrupt FTX cryptocurrency exchange may recover funds means he did not steal, his successor as CEO said on Wednesday. Bankman-Fried was convicted in November of stealing $8 billion from FTX customers. In a so-called victim impact statement filed in […]
By Luc Cohen NEW YORK (Reuters) – Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8 billion from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said on Friday. A jury found Bankman-Fried, 32, guilty in November on seven counts of fraud and conspiracy. Federal prosecutors in […]