FTX

FTX Founder’s Lawyers Argue Against Lengthy Prison Term, Claiming No Losses in Case

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New York City – Lawyers representing Sam Bankman-Fried, the former founder and CEO of cryptocurrency exchange FTX, have strongly opposed the government’s recommendation for a 50-year prison sentence. In a letter to Judge Lewis Kaplan, Bankman-Fried’s legal counsel argued that the proposed sentence was excessive and compared it to a death-in-prison recommendation. The lawyers criticized the prosecution for adopting a “medieval view of punishment” and distorting the reality of the case. Last week, U.S. prosecutors had submitted their sentencing recommendations, advocating for a minimum of 40 to 50 years in prison for Bankman-Fried. They emphasized … Read more

FTX Founder Faces “Grotesque” Suggested 100-Year Prison Sentence for Cryptocurrency Crimes, Lawyer Calls for Leniency

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NEW YORK (AP) — The lawyer for Sam Bankman-Fried, founder of FTX, called the suggested 100-year prison sentence for his client “grotesque” and “barbaric.” Attorney Marc Mukasey argued that a term of a few years behind bars would be more appropriate for the cryptocurrency crimes that Bankman-Fried still disputes. In presentence arguments filed in Manhattan federal court, Mukasey contended that the report by probation officers improperly calculated the federal sentencing guidelines. The recommendation of a 100-year sentence falls just 10 years short of the maximum possible sentence of 110 years. Prosecutors, who will respond in … Read more

Controversy Surrounds Sentencing Recommendation of FTX Founder Convicted for Fraud: 100 Years in Jail

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NEW YORK, NY – Sam Bankman-Fried, the convicted founder of cryptocurrency platform FTX, is facing a recommended prison sentence of 100 years, according to his lawyer. Bankman-Fried, who was convicted of fraud and conspiracy last November, has been described as both an “evil genius” and a “brilliant, complex and humane person.” His attorney argues that the suggested sentence is “grotesque” and “barbaric.” During presentence arguments, Bankman-Fried’s lawyer, Marc Mukasey, criticized the Probation officers’ report, stating that it improperly calculated the federal sentencing guidelines. The recommended sentence falls just ten years short of the maximum potential … Read more

FTX Crypto Trading Platform Accused of Running Profit-Making Scam with Bahamas Bank: Lawsuit Reveals Secrets

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MIAMI, FL – FTX, a cryptocurrency trading platform, is at the center of a scandal involving the creation and sale of Tether stablecoins in a profit-making scheme. According to a recent lawsuit reported by Bloomberg, FTX allegedly worked secretly with Deltec Bank & Trust Ltd., based in the Bahamas, to carry out this fraudulent activity. The lawsuit, filed in a Florida court, also implicates Alameda Research, FTX’s sister firm. Caroline Ellison, former CEO of Alameda Research, provided details of the scheme in the court filing. The process involved Alameda creating Tether, also known as USDT, … Read more