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- 1 SBF, the co-founder of the FTX exchange recommended a sentence of 100 years in Prison.
- 2 Sam’s family, friends, and legal team filed for the judge’s leniency on the pending prison sentence.
Sam Bankman-Fried (SBF), who was found guilty of fraud and other crimes made his last stand to serve no longer than 6.5 years in prison. On Tuesday, two dozen letters to Judge Lewis Kaplan requesting to shorten Sam’s imprisonment from 29 family members, victims, and doctors come in favor of SBF.
What’s inside the 29 support letters?
Based on a recent report, SBF could face imprisonment of up to 100 years. Sam, in his fraud and crime cases, is all prepared to make his last move.
SBF’s lawyer recently requested Lewis Kaplan, the US district judge to punish Sam for not more than 6.5 years, based on his Autism Spectrum Disorder (ASD) conditions, psychiatric conditions, and the further effects of confinement.
The Judge received around 29 letters from Sam’s friends, family, and legal team requesting leniency in Sam’s pending prison sentence.
Sam’s Mother, Barbara wrote to the judge, about his critical mental health and described the ASD. As per the letter, SBF was uncomfortable interacting with others looking into their eyes. Also, Sam is bad at responding normally and feels uncomfortable while showing emotions.
Supporting the statement, George Lerner, Sam’s psychiatrist stated that he hasn’t been encouraged by greed, but his psychiatric disorders.
Additionally, Sam’s father, Joseph Bankman, and Gabriel, Sam’s brother also joined the team stating, that SBF is selfless but socially awkward.
“Imprisonment or isolation would harm Sam, both physically and mentally”, they added.
Sam has made several mistakes, but his life would be wasted in prison and he holds great gifts for the world, his brother added.
On March 28, he will be back in court and the judge will decide about Sam’s punishment. It is supposed that Sam will be imprisoned for roughly 110 years. However, the lawyers are putting efforts to shorten the punishment to no longer than 6.5 years.
SBF investigation in short
SBF is the co-founder of FTX, a cryptocurrency exchange and was one of the wealthiest people in the crypto market. On November 11, 2022, he resigned from his position as the company filed for Chapter 11 bankruptcy. During the investigation, the FTX crypto exchange proposed a plan to return customers’ funds and recover around $7 Billion in assets.
With the investigation ongoing, on November 3, 2023, he was found guilty of fraud and other crimes.
He was charged with cheating customers and using the platform for personal benefits. However, Sam claimed not to attempt any fraud or cheating customers, intentionally or unintentionally. Now he is waiting for his final hearing which is supposed to be held on March 28, 2024.
FTX crypto exchange was introduced by Sam in 2019 to offer the best trading and crypto exchange services. It was one of the biggest digital asset exchange platforms offering buying and selling of assets. The platform offered spot, leveraged trading, and derivatives for cryptocurrency and NFT collectibles.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
