Crypto Blog
After the collapse of Sam Bankman-Fried’s FTX, customers suffered losses in the billions of dollars. Following a grueling trial in New York and four hours of deliberations, the jury’s verdict is out.
The maximum sentences for Bankman-Fried’s offenses range from 5 to 20 years in prison . In particular, wire fraud, wire fraud conspiracy, and money laundering conspiracy can result in a maximum sentence of 20 years. “Bankman-Fried maintains his innocence and will continue to vigorously fight the charges against him.”
While Bankman-Fried faces the prospect of a lengthy prison term, in contrast, Ellison, Wang, and Singh are likely to receive minimal or no prison sentences and instead face fines only.
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