SBF Prosecutors Recommend at Least 40 Years in Prison

Cryptocurrency criminal still doesn't accept responsibility, memo says
By Bob Cronin,  Newser Staff
Posted Mar 15, 2024 4:10 PM CDT
SBF Prosecutors Recommend at Least 40 Years in Prison
Sam Bankman-Fried leaves federal court last July in New York.   (AP Photo/Mary Altaffer)

A considerable gap now exists between the sentencing recommendations filed by Sam Bankman-Friedman's lawyers and those made Friday by federal prosecutors. The maximum possible prison sentence for the former cryptocurrency kingpin, who was convicted of seven counts of fraud and conspiracy, is 110 years. Prosecutors' memo filed in US District Court in Manhattan suggests he be given 40 to 50 years, the New York Times reports. "Justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes," they wrote.

The defense asked the court last month that the prison term for Bankman-Fried, 32, who was convicted of stealing $8 billion, not exceed 6½ years. Judge Lewis A. Kaplan is scheduled to impose a sentence on March 28. Prosecutors see no reason for mercy in Bankman-Fried's case, NBC News reports. "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," their memo says. "And even now Bankman-Fried refuses to admit what he did was wrong." (More Sam Bankman-Fried stories.)

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