Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - US
The Guardian - US
Business
Nick Robins-Early and agencies

Sam Bankman-Fried deserves 40 to 50 years for FTX fraud, prosecutors say

Sam Bankman-Fried FTX Lewis Kaplan Manhattan Bitcoin
Man with rumpled hair in blue suit outside court
Sam Bankman-Fried outside court in March last year. Photograph: Amanda Perobelli/Reuters

Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8bn from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said on Friday.

“His life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people’s money,” federal prosecutors in Manhattan wrote. “And even now Bankman-Fried refuses to admit what he did was wrong.”

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Bruno Mars Fan Has Never Been Happier To Sell a Ticket After Horrible Gridlock Hits Santa Clara
A Bruno Mars fan said they were relieved to have sold their ticket after crowds and traffic delays followed the singer's concert at Levi's Stadium in Santa Clara
International Business Times UK
International Business Times UK
Kelly Clarkson doubles down over $15K bird dispute. But the NYC shop has a different story
‘So you’re not only rude, you’re also a liar,’ the singer said
The Independent UK
The Independent UK
'It's Not Really a Free Car': Oprah's Pontiac Winners Faced Tax Bills of up to $7,000 After the Show
Oprah Winfrey's 2004 giveaway made television history by giving 276 audience members Pontiac G6s, but the cars' taxable value left some facing bills of up to $7,000.
International Business Times UK
International Business Times UK
Sylvester Stallone and Arnold Schwarzenegger are now 'good friends'
Sylvester Stallone says he and former rival Arnold Schwarzenegger are "good friends" these days.
BANG Premier
BANG Premier
New Jersey man allegedly hurls racist slurs at a stranger in a Walmart parking lot. Then he refuses to leave his car: ‘Get out of the car, boss’
He had plenty to say through the window.
We Got This Covered
We Got This Covered
If Shane Gillis wants to offend women, he could at least try being funny
ANALYSIS: The most offensive part of Gillis’s ‘women as wh***s’ segment was how deeply mediocre it is, writes Holly Baxter
The Independent UK
The Independent UK
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play