CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Ruling In SBF Case Is A Warning To Others, U.S. Attorney Says

29.03.2024
A A
0
131
VIEWS
ShareShare

U.S. Attorney Damian Williams wrote in an official statement following Judge Lewis A. Kaplan’s Thursday morning ruling that FTX founder Sam Bankman-Fried’s 25-year prison sentence will send “an important message” to potential fraudsters everywhere.

In addition to a quarter of a century in prison, Kaplan has ordered Bankman-Fried to forfeit over $11 billion.

A Message To Future Fraudsters, U.S. Attorney Says

Bankman-Fried’s sentencing follows his November 2023 trial for his nearly $8 billion digital asset fraud scheme through crypto exchange FTX and its sister company, Alameda Research, with Williams calling the FTX founder’s theft “unprecedented.”

Statement of U.S. Attorney Damian Williams on the sentencing of Samuel Bankman-Fried pic.twitter.com/QeSVxFBjol

— US Attorney SDNY (@SDNYnews) March 28, 2024

“Today’s sentence will prevent the defendant from ever again committing fraud and is an important message to others who might be tempted to engage in financial crimes that justice will be swift, and the consequences will be severe,” Williams said.

Sam Bankman-Fried Apologizes

Slightly thinner and wearing a beige jumpsuit, Bankman-Fried spoke in court during the ruling, apologizing to colleagues, family, friends, and customers for the crypto exchange’s collapse.

“I know a lot of people feel let down,” Bankman-Fried told the court. “I’m sorry about that. I’m sorry about everything that happened at every stage.”

He went on to state that he feels “excruciating guilt” over his role in the crypto exchange’s implosion, claiming the damage it caused “haunts” him every day.

The FTX founder’s new lawyer, Marc Muskasey, likened the fraudster to a “beautiful puzzle” who was “socially awkward.”

“SBF doesn’t make decisions with malice in his heart,” Mukasey said. “He makes decisions with math in his head.”

SBF Motivated By Power And Influence, U.S. Attorney Says

Kaplan, however, did not subscribe to the defense’s logic, calling their argument “misleading, logically flawed, and speculative.”

“He knew it was wrong,” Kaplan continued. “He knew it was criminal. He regrets making a bad bet against the likelihood of getting caught – and he’s not going to admit a thing.”

“His deliberate and ongoing lies demonstrated a brazen disregard for customers’ expectations and disrespect for the rule of law, all so that he could secretly use his customers’ money to expand his own power and influence,” Williams continued. “The scale of his crimes is measured not just by the amount of money that was stolen, but by the extraordinary harm caused to victims, who in some cases had their life savings wiped out overnight.”

Bankman-Fried will spend his sentence in a medium-security prison. He is currently at the Metropolitan Detention Center in Brooklyn, NY.

The post Ruling In SBF Case Is A Warning To Others, U.S. Attorney Says appeared first on Cryptonews.

Share10Tweet6ShareSharePin2

Related Posts

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH
All news

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
0

A sophisticated cyberattack on C&M Software, a technology provider for Brazil’s Central Bank, has triggered a wave of crypto laundering,...

Read moreDetails
Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

06.07.2025
Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

06.07.2025
XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

06.07.2025
Load More
Next Post
Best Crypto to Buy Today March 28 – Dogwifhat, Dogecoin, Core

Best Crypto to Buy Today March 28 – Dogwifhat, Dogecoin, Core

4 1 vote
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Solana drops over 15% in a single day, giving up entirety of weekly gains

Solana drops over 15% in a single day, giving up entirety of weekly gains

1 year ago
Polymarket vs BET: How crypto prediction markets differ in handling betting outcomes

Polymarket vs BET: How crypto prediction markets differ in handling betting outcomes

10 months ago

Tennessee Couple Faces CFTC Charges for ‘Blessings of God Thru Crypto’ Scheme

2 years ago
What is Bitcoin’s fee-to-reward ratio?

What is Bitcoin’s fee-to-reward ratio?

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

Bitcoin Price Prediction: Post-$50B Whale Dump, BTC Price Holds Steady – Can Institutional Control Drive New Highs?

Why Snaky Way’s $AKE Token Is More Than Just a Meme Coin, Presale Ongoing

Ripple (XRP) Holders Achieve Financial Freedom by Starting Dogecoin (DOGE) Mining Machines through Blockchain Cloud Mining

PEPE Whales Accumulate Amid Market Volatility: Is a 200x Rally Coming?

Trending

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH
All news

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
0

A sophisticated cyberattack on C&M Software, a technology provider for Brazil’s Central Bank, has triggered a wave...

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

06.07.2025
Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

06.07.2025
XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

06.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz