This article comes from:Skynews
Original compilation: Odaily Kate
Editors note: This article was published four days after Sam Bankman-Frieds final sentencing. On March 28, U.S. District Judge Lewis A. Kaplan finally sentenced SBF in Manhattan Federal Court to seven counts of conspiracy to defraud and conspiracy to commit money laundering. He was sentenced to 25 years in prison and confiscated more than $11 billion. assets.
Sam Bankman-Fried, the former “King of Cryptocurrency” who was sentenced for stealing billions of dollars from his clients, gave his first interview to ABC News since being imprisoned. Bankman-Fried said, I am terrified every day and will do everything I can from prison to recoup the billions of dollars lost by my clients.
“Every day I spent in prison was haunted by everything I had lost.”
The infamous cryptocurrency entrepreneur was the CEO of FTX, which suddenly went bankrupt in November 2022, with millions of users’ accounts frozen and funds worth $10bn (£7.9bn) missing. Fly with wings.
Sam Bankman-Fried was sentenced to 25 years in prison last week after a New York jury found him guilty of fraud and money laundering in what prosecutors called one of the largest financial frauds in U.S. history.
Speaking for the first time since being jailed, the 32-year-old said he was of course remorseful. It’s just that we have no way of exploring whether it’s “of course” a regret that the incident came to light, or a sincere regret for causing huge losses to customers.
I am haunted every day by all that I have lost, Bankman-Fried told ABC News via email from the Metropolitan Detention Center in Brooklyn, adding: This is what I think about most every day.
“I never meant to hurt anyone or take anyones money, He continued. But I am the CEO of FTX and I am responsible for everything that happens in the company. When youre responsible, it doesnt matter why things went wrong.
I would give anything to help make up for even some of the loss. I will do the best I can while in prison, but I am deeply frustrated by the limits of what I can do.
Bankman-Fried reiterated that he never considered my actions to be illegal, adding: While I tried to hold myself to a high standard, I certainly did not meet that standard. He went on to say that he felt the pain of his colleagues as he threw away something they had devoted their lives to”。
Prosecutors allege that Bankman-Fried misappropriated funds to seek influence and dominance in new industries, causing billions of dollars in losses to clients, investors and lenders, and illegally used the money of FTX depositors to cover his expenses. These includePurchased luxury homes and private jets in the Caribbean and was suspected of bribing officials.
At a sentencing hearing in Manhattan, Judge Lewis Kaplan said the businessman lied on the witness stand, insisting he had no knowledge of the misuse of client funds.
The judge also said Bankman-Frieds assertion that victims would be fully compensated had Misleading and logically flawed”。
Judge Kaplan said:"A thief who brought stolen goods to Las Vegas and successfully gambled the stolen goods was not entitled to a sentencing reduction because he used the money he won in Las Vegas to repay what he had stolen.。
The judge said the decision reflected This person may do very bad things in the future. He added that the purpose of this is to"incapacitate him to an appropriate degree over a substantial period of time"。
Bankman-Fried also expressed remorse in a vague statement shortly before he was sentenced.
A lot of people are very disappointed. Theyre very disappointed. Im sorry for that. Im sorry for what happened at every stage, he told the court. My useful life may be over. My life has been over since before I was arrested.
Armed with billions of dollars in investor cash, Bankman-Fried has ridden the wave of success, including Super Bowl ads and endorsements from stars like quarterback Tom Brady, basketball star Stephen Curry and comedian Larry David.
But after cryptocurrency prices plummeted in 2022, asOne of the biggest donors to Joe Bidens 2020 presidential campaign, Bankman-Fried had sought to plug the hole in the balance sheet of an FTX hedge fund affiliate, known as Alameda Research.
