SBF Sentencing: Will He Obtain 150 Years Jail Time period Like Bernie Madoff?

• Sam Bankman-Fried’s jail time period hinges on the choose deciding whether or not or not he’s a crypto Bernie Madoff.
• Prosecutors need a sentence starting from 40 to 50 years, liking him to Madoff.
• SBF’s protection crew advocates for a most sentence of six and a half years.

In accordance with Bloomberg, the destiny of disgraced FTX founder Sam Bankman-Fried (SBF) now hinges on persuading the choose that his crime isn’t much like Bernie Madoff, who’s arguably the best fraudster of all time.

On this Thursday’s sentencing, the choose should decide whether or not the SBF is merely a traditional monetary fraudster or a determine rivaling the notorious Bernie Madoff. Emphatically, the adopted perspective will decide whether or not the 32-year-old fraudster will spend most of his future behind jail partitions or see launch in his center years.

The report cited that prosecutors are pushing for a sentence starting from 40 to 50 years. They describe SBF’s offense as “probably the biggest fraud of the final decade,” impacting over 1 million victims with over $10 billion in losses.

In the meantime, Bankman-Fried’s protection crew advocates for a most sentence of six and a half years. They cited his philanthropic endeavors and disputed prosecutors’ portrayal of him as a wicked supervillain deserving of incarceration till previous age.

Former federal prosecutor Michael Weinstein anticipates that Bankman-Fried might obtain a sentence starting from 25 to 32 years. Weinstein has described him as this millennials’ Bernie Madoff.

Of their court docket submission, prosecutors likened Bankman-Fried’s influence to Madoff’s, whose crimes tallied round $13 billion in losses. Bankman-Fried, in his protection, maintained that his actions didn’t hurt prospects or lenders. He argued that regardless of FTX’s chapter submitting, the crypto alternate remained financially sound, with the cash all the time accessible.

Notably, Madoff obtained a 150-year jail sentence however handed away in 2021 after spending roughly twelve years behind bars. Bankman-Fried’s future rests within the fingers of U.S. District Decide Lewis Kaplan.

In figuring out Bankman-Fried’s sentence, the choose will reference pointers initially launched in 1987 to handle disparities throughout the federal prison justice system. These pointers issue within the severity of the offense and the offender’s prison historical past.