Sam Bankman-Fried Sentenced To 25 Years In Prison

Prosecutors have referred to the situation as one of the biggest financial fraud cases in U.S. history.

Sam Bankman-Fried was sentenced Thursday to 25 years in prison.

The 32-year-old was sentenced for stealing $8 billion from customers of the now bankrupt FTX cryptocurrency exchange he founded. He was found guilty last November on seven fraud and conspiracy counts stemming from FTX’s collapse in 2022.

Bankman-Fried’s sentence is nearly half of the 40 to 50 year sentence federal prosecutors sought.

Prosecutors have referred to the situation as one of the biggest financial fraud cases in U.S. history.

The former billionaire has vowed to appeal his conviction and sentence.