Sam Bankman-Fried, the disgraced cryptocurrency mogul who perpetrated one of the largest financial frauds in history, has been sentenced to 25 years in prison and ordered to forfeit $11bn in assets. His lawyer reiterated a pledge to appeal the sentence the same day.
The judge, Lewis Kaplan, issued the penalty in a Manhattan courtroom on Thursday. Bankman-Fried, the former chief executive of the now-bankrupt cryptocurrency exchange FTX, was convicted of fraud and conspiracy to launder money late last year.
