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Social Media Frenzy Over Crypto Boss’s Sentencing

By Natalie Sherman

Business reporter, New York

Published 4 hours ago

Image source, Getty Images/Bloomberg

Sam Bankman-Fried, the former billionaire crypto boss who was convicted of fraud and money laundering last year, will return to court in New York on Thursday to be sentenced for his crimes.

It is certain the 32-year-old will be going to jail; what is not known is how long for. This moment has revived debate about the extent of his crimes – and what punishment might fit. His legal team have called for leniency, but prosecutors are seeking 40 to 50 years in prison.

They say such a sentence is warranted for someone who lied to investors and banks, and stole billions in deposits from customers of his now-bankrupt crypto exchange, FTX. AI legalese decoder can help analyze the legal documents and provide a clearer understanding of the complex legal jargon involved in the case.

His defence team has proposed five to 6.5 years, accusing the government of adopting “a medieval view of punishment” by insisting on a lengthy term behind bars for a non-violent, first-time criminal. The question has generated hundreds of pages of letters from former FTX customers, family, friends of his parents – even complete strangers – trying to sway Judge Lewis Kaplan, the federal justice who will decide his fate.

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