• Sam Bankman Fried's sentence will rely on a decide deciding whether or not he’s a crypto Bernie Madoff.
• Prosecutors are favoring Mr. Madoff and are in search of a sentence of 40 to 50 years in jail.
• SBF's protection crew is pushing for a most sentence of six and a half years in jail.

Based on Bloomberg, the destiny of disgraced FTX founder Sam Bankman Fried (SBF) is now set to persuade a decide that his crimes aren’t just like Bernie Madoff, maybe the best fraudster of all time. It relies on whether or not or not.

On this Thursday's ruling, the judges should resolve whether or not SBF is only a conventional monetary fraudster or a determine corresponding to the infamous Bernie Madoff. I need to emphasize that the angle taken will decide whether or not this 32-year-old fraudster finally ends up spending most of his future behind jail partitions or is launched in center age. I'm saying that.

The report stated prosecutors are in search of a sentence of 40 to 50 years. They describe SBF's crimes as “arguably the largest fraud of the previous decade”, affecting greater than 1 million victims and leading to losses of greater than $10 billion.

In the meantime, Bankman Fried's protection crew is pushing for a most sentence of six-and-a-half years in jail. They cited his charity work and took situation with prosecutors' portrayal of him as a wicked supervillain who deserved to be imprisoned till outdated age.

Former federal prosecutor Michael Weinstein predicts Bankman Fried could possibly be sentenced to 25 to 32 years. Weinstein described him as this millennial Bernie Madoff.

In court docket filings, prosecutors likened Mr. Bankman Freed's affect to Mr. Madoff's crimes, which they are saying resulted in losses of about $13 billion. In his protection, Mr. Bankman Fried argued that his actions didn’t hurt his prospects or lenders. He maintained that regardless of FTX's chapter submitting, the cryptocurrency trade stays financially sound and can all the time have entry to funds.

Notably, Madoff was sentenced to 150 years in jail, however handed away in 2021 after spending roughly 12 years in jail. Bankman Freed's destiny is within the arms of U.S. District Choose Lewis Kaplan.

In deciding Bankman Freed's sentence, the decide will consult with pointers first put in place in 1987 to deal with disparities inside the federal felony justice system. These pointers consider the seriousness of the crime and the felony historical past of the offender.