Sam Bankman-Fried wants 6.5 years in prison and recommends 100 years is ‘grotesque’

Sam Bankman-Fried (SBF) asked the court for a relatively lenient prison sentence on the grounds that FTX customers would not suffer losses.

In a Feb. 27 filing, SBF’s lawyers requested a sentence of between 63 and 78 months, arguing that FTX was solvent at the time of bankruptcy and that a current investigation report (PSR) recommended a 100-year prison sentence for their client. “It’s grotesque.”

“The money was there,” the lawyers said. “It wasn’t lost,” he said. “There is absolutely no harm to customers, lenders or investors. Sam is a 31-year-old first-time non-violent offender who participated in the conduct in question with at least four other negligent individuals in a matter for which the victim is prepared to recover. “100 cents on the dollar.”

FTX was solvent even before bankruptcy

Earlier this month, FTX lawyers told a judge in Delaware that the exchange plans to repay all customers in full after the bankruptcy estate recovers $10 billion in assets.

SBF was found guilty on seven counts, including fraud and conspiracy, after a month-long trial in October last year. His sentencing is scheduled for March 15.

Lawyers also dismissed the prosecution’s argument that SBF intended fraud. They claim SBF has always attempted to reimburse customers, as evidenced by witness statements and company financials.

Disgraced FTX co-founder recommends Solana to prison guards

Meanwhile, the New York Times recently reported that SBF is promoting Solana to prison guards.

Sam Bankman-Fried gives financial advice from prison.

According to the NYT, he is telling his guards to invest in Solana. pic.twitter.com/j9BnGtWqrr

— Milk Road (@MilkRoadDaily) February 27, 2024

According to the report, SBF not only researched his case while detained at the Brooklyn Metropolitan Detention Center, but also shared cryptocurrency market investment tips with prison guards.

The story indicates SBF’s continued attraction to Solana, including SOL, one of the key holdings of the collapsed FTX exchange.

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