Sam Bankman-Fried will grow old in jail. But don’t forget those who basked in his orbit

‘Those same groups who today come to bury the boy billionaire yesterday praised him without qualification.’ Illustration: Nate Kitch/The Guardian

Later today, a man who has recently turned 32 will be hauled in front of a Manhattan judge. Already convicted of huge fraud, he knows he’s going to prison. The only question is for how long. If the US government gets its way, he will not emerge before his 80th birthday.

This is the final disgrace of Sam Bankman-Fried. The judge, politicians and the world’s press will declare him one of the biggest swindlers in American history. They will note how within three years he built a marketplace for digital currencies, or crypto, that was worth around $32bn – and made himself the world’s richest person under 30. Still it wasn’t enough. He spent perhaps $8bn of his customers’ savings on luxury homes, risky investments and whatever else took his fancy.