"Crypto King" Sam Bankman-Fried Gets 25 Years in Jail for Fraud & Conspiracy | Firstpost America

"Crypto King" Sam Bankman-Fried Gets 25 Years in Jail for Fraud & Conspiracy | Firstpost AmericaShow more

"Crypto King" Sam Bankman-Fried has been sentenced to 25 years in prison. He was convicted in November last year of seven counts of fraud and conspiracy for stealing around 8 billion dollars from customers and investors of his cryptocurrency company FTX which went bankrupt in 2022. The 32-year-old used the money to buy luxurious properties and private planes and made political donations. During the trial, Bankman-Fried denied any wrongdoing and blamed his company executives for the fraud. He said he would appeal against the conviction. US Prosecutors call the "Crypto King" case one of the biggest financial frauds in American history.

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