US court sentence crypto king Sam Bankman-Fried to 25 years in prison for fraud, money laundering

Medium-security federal prisons have strengthened perimeters
— often double fences with electronic detection systems — and mostly cell
housing, according to the bureau of prisons.

Just before announcing Bankman-Fried’s 25-year sentence, Kaplan
said there was a risk “that this man (Bankman-Fried) will be in a position to
do something very bad in the future, and it’s not a trivial risk”.

“Bankman-Fried acknowledged his mistakes and said he was
sorry for what happened to customers but never a word of remorse for the
commission of terrible crimes,” Kaplan said.

“He knew it was wrong.”

The judge also said many facts are not disputed, including
that the former FTX boss had “an exceptionally privileged background”.

“He is extremely smart. And he suffers from autism, and is
capable of huge accomplishments,” he said.

Kaplan also agreed with prosecutors’ claim that
Bankman-Fried “wanted to be a hugely, hugely politically influential person in
this country,” and that propelled his financial crimes.

In 2022, Bankman-Fried was arrested by Bahamian authorities
due to criminal charges filed by the US government.

On November 3, 2023, Bankman-Fried was found guilty of fraud
and money laundering at the end of a month-long trial in New York.