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FTX’s Bankman-Fried Could Face 155 Years Jail – EuroNews

The latest charges filed against SBF over the collapse of his crypto exchange and related transactions could see him facing a sentence from 115 up to 155 years in jail

US prosecutors say FTX chief ordered $40m payment to get Chinese officials to unfreeze over $1 billion of crypto in Alameda accounts
Former FTX chief executive Sam Bankman-Sam Bankman-Fried could face many years in jail. Photo: Reuters


The latest charges filed last week by US prosecutors against Sam Bankman-Fried over the collapse of his crypto exchange FTX and related fraud accusations could see him facing a sentence from 115 up to 155 years in jail, according to a report by EuroNews, which said the former billionaire now faces 12 indictments.

Prosecutors said on Thursday that Bankman-Fried stole billions of dollars in FTX customer deposits to support the operations and investments of FTX and his crypto trading hedge fund Alameda Research – and “make charitable donations and spend tens of millions of dollars on illegal campaign donations to Democrats and Republicans in an attempt to buy influence over cryptocurrency regulation in Washington DC”, the report said.

Lawyers say Bankman-Fried has done himself no favours by attempting to defend himself in the court of public opinion, noting that he had sent out “eight tweets, a Substack newsletter, and [done] a handful of lengthy interviews with the media”, according to a separate report by NPR, which noted that all his donations to the Republican Party were “dark” – admissions that led to some of the recent additional charges.

Read the full report: EuroNews.





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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.


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