Prosecutors Demand 50 Years for Bankman-Fried, Citing FTX Founder’s Repeated Gambles ‘With Other People’s Money’ U.S. prosecutors are not holding back in their pursuit of justice, seeking a
50-year sentence for the former FTX head, SBF. They're also pushing for
$11 billion in penalties and the forfeiture of significant assets. Attorney Williams argues that the gravity of SBF's crimes warrants this hefty punishment, especially when compared to the defense's plea for much lighter sentences.
Despite his privileged background and promising start in finance, Bankman-Fried's choices have been far from prudent. Prosecutors highlight his penchant for
risk-taking and gambling with other people's money, while noting his lack of remorse. Williams stresses that true justice demands a sentence that matches the magnitude of his wrongdoing.
The court proceedings have shed light on SBF's eleventh-hour attempts to salvage FTX through a new venture called "Archangel LTD." This last-ditch effort was rife with intriguing strategies, including courting media attention and even considering a political pivot on national television.
Heart-wrenching messages from devastated FTX customers paint a grim picture of financial ruin and shattered dreams. People express not just monetary losses but also the deep emotional toll it has taken on their lives and relationships.
While SBF's defense presents letters vouching for his character, including one from his mother, Barbara Fried, who adamantly believes he is no threat to society, prosecutors remain resolute in their pursuit of a severe sentence.
In this high-stakes legal battle, the future of one man hangs in the balance as prosecutors argue for a punishment that matches the scale of his alleged misdeeds.
