Days after Sam Bankman-Fried acquired a 25-year prison sentence, the FTX founder launched an announcement to ABC News saying how sorry he was about his crimes. He says he made some “unhealthy choices” and didn’t understand that his billion-dollar Ponzi scheme wasn’t unlawful.
“I attempted to carry myself to a excessive commonplace, and I actually didn’t meet that commonplace,” he informed ABC Information through e-mail from the Metropolitan Detention Middle in Brooklyn. “It’s most of what I take into consideration every day. I’m haunted, each day, by what was misplaced. I by no means meant to harm anybody or take anybody’s cash.”
Bankman-Fried is about to be in jail till he’s 57 years previous, although he may see early launch if he displays good conduct.
Prosecutors initially sought a punishment of 40-50 years for Bankman-Fried’s crimes, which included fraud, conspiracy, and money laundering. The founder and CEO was convicted on fees associated to the misuse of greater than $8 billion of FTX clients’ funds and one other $2 billion from traders and lenders. SBF was additionally discovered responsible of perjury 3 times by the choose for mendacity underneath oath throughout his trial.
FTX clients, thankfully, seem like on the street to reimbursement. Final week, the corporate sold its stake in Anthropic, an organization growing AI that’s in competition with OpenAI. The proceeds from the deal, if authorized, may go to these FTX clients who have been defrauded by the corporate underneath SBF’s reign.
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