4 Tech News

News relevant to Tech, Economics and Law

Sam Bankman-fried will be sentenced in 2024

Bankman-Fried, the former CEO of FTX was found guilty of seven counts of fraud relating to his stewardship of his cryptocurrency exchange.

A Jury found him guilty on 2 November 2023. They deliberated for a very short time before delivering guilty verdicts.

His case was adjourned for sentencing on 28 March 2024.

This case is belevied to be one of the biggest financial frauds in American history, eclipsing the bernie Madoff case. Bernie madoff was sentenced to 150 years in prison.

In Mr Bankman-Fried’s case, the maximum sentence is 110 years jail. He is likely to recieve a sentence of multiple decades before being eligble for parole.

Leave a Reply

Your email address will not be published. Required fields are marked *