The former crypto golden child turned fraudster Sam Bankman-Fried is going to prison. According to reports, the fallen scammer has been sentenced to 25 years in federal prison.
The Lowdown
Following a sensational trial that saw the collapse of FTX the crypto exchange play out in realtime a sentencing has been handed down. According to reports, SBF will also pay more than $11b in penalties for the collapse which also affected an associated research company Alameda Research.
During sentence, U.S Judge Lewis Kaplan noted that at no time during the trial did SBF express remorse for his crimes. He also noted that there was belief that he would be able to do serious harm in the future.
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