{"id":2208323,"date":"2024-03-28T13:23:03","date_gmt":"2024-03-28T17:23:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fraudster-dem-megadonor-sam-bankman-fried-sentenced-to-prison\/"},"modified":"2024-03-28T13:25:38","modified_gmt":"2024-03-28T17:25:38","slug":"fraudster-dem-megadonor-sam-bankman-fried-sentenced-to-prison","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fraudster-dem-megadonor-sam-bankman-fried-sentenced-to-prison\/","title":{"rendered":"Convicted Fraudster and Democratic Mega-donor, Sam Bankman-Fried, Receives Prison Sentence"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffraudster-dem-megadonor-sam-bankman-fried-sentenced-to-prison%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2208323&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Former billionaire \u2063entrepreneur and FTX founder Sam Bankman-Fried was sentenced to 25\u200c years in\u2063 federal prison for \u2064multiple \u200ccounts, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-democratic-california-rep-tj-cox-indicted-for-fraud-faces-up-to-55-years-in-prison\/\" title=\"Former Democratic California Rep. TJ Cox Indicted For Fraud, Faces Up To 55 Years In Prison\">including wire fraud<\/a>. His actions \u200dled to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/like-a-nascar-pit-crew-authorities-bust-car-theft-ring-that-stole-catalytic-converters-in-less-than-a-minute\/\" title=\"\u2018Like A NASCAR Pit Crew\u2019: Authorities Bust Car Theft Ring That Stole Catalytic Converters In Less Than A Minute\">significant financial losses<\/a>. Despite facing a\u2062 potential 40-50 year\u200d sentence, he\u2062 received 25 years. Bankman-Fried expressed regret during the sentencing, acknowledging his wrongdoing. He plans to appeal the conviction. Sam Bankman-Fried, the former billionaire entrepreneur and FTX \u2064founder, has been sentenced to 25 years in federal prison \u2062for various charges, including wire fraud,\u200c resulting\u2064 in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scotus-upholds-california-flavored-tobacco-ban\/\" title=\"SCOTUS Upholds California Flavored Tobacco Ban\">substantial financial losses<\/a>. Although he faced\u200c a possible sentence\u200c of 40-50 years, he received 25 years.\u2064 Expressing remorse during sentencing, he admitted his mistakes and intends to appeal\u200b the conviction.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p>Former billionaire entrepreneur and FTX founder Sam Bankman-Fried was sentenced to 25 years in federal prison on Thursday after he was found guilty in November of seven counts, including wire fraud and conspiracy to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-president-trump-gives-pardons-to-73-individuals-and-commutes-another-70-sentences-steve-bannon-is-included\/\" title=\"BREAKING: President Trump Gives Pardons to 73 Individuals and Commutes Another 70 Sentences \u2013 Steve Bannon Is Included\">commit wire fraud<\/a>, crimes that cost customers and lenders billions of dollars.<\/p>\n<p>New York Judge Lewis Kaplan slapped Bankman-Fried, also known as SBF, with 25 years after prosecutors said the 32-year-old should face a sentence between 40-50 years, CNN <a href=\"https:\/\/www.cnn.com\/business\/live-news\/sam-bankman-fried-sentencing-03-28-24\/index.html\">reported<\/a>. The judge found that following the collapse of the former billionaire\u2019s cryptocurrency empire, investors, lenders, and customers lost more than $10 billion.<\/p>\n<p>\u201cHe did it because he wanted to be a hugely, hugely political influential person in this country,\u201d Kaplan said, according to <a href=\"https:\/\/nypost.com\/2024\/03\/28\/us-news\/sam-bankman-fried-faces-decades-in-prison-as-hes-sentenced-today-for-multi-billion-dollar-fraud\/\" target=\"_blank\" rel=\"noopener\">The New York Post<\/a>, adding, \u201cHe knew it was wrong, he knew it was criminal, he regrets that he made a very bad bet about the likelihood of being caught.\u201d<\/p>\n<p>Judge Kaplan also said in the sentencing hearing that SBF committed witness tampering and perjury during his monthslong trial when he communicated with the former FTX general counsel while in custody and falsely testified that he did not know that FTX\u2019s sister hedge fund Alameda Research spent his customers\u2019 deposits before the fall of 2022.<\/p>\n<p>SBF\u2019s lawyers argued that their client should only face six and a half years at most, saying, \u201cHis real motivations were misapprehended and misunderstood.\u201d<\/p>\n<p class=\"sc-gZMcBi render-stellar-contentstyles__Paragraph-sc-9v7nwy-2 dCwndB\">\u201cReally he\u2019s an awkward math nerd\u2026He loves video games and veganism, and he\u2019s compassionate to animals,\u201d attorney Marc Mukasey added.<\/p>\n<p>Bankman-Fried addressed the court during the sentencing hearing and apologized, according to CNN.<\/p>\n<p>\u201cA lot of people feel really let down, and they were very let down, and I am sorry about that,\u201d he said. \u201cI am sorry about what happened at every stage. And there are things I should\u2019ve done and things I shouldn\u2019t have.\u201d<\/p>\n<p>\u201cMy useful life is probably over. It\u2019s been over for a while now,\u201d the 32-year-old added.<\/p>\n<p>He <a href=\"https:\/\/www.cnbc.com\/2024\/03\/28\/live-updates-ftx-founder-sam-bankman-fried-sentencing.html\" target=\"_blank\" rel=\"noopener\">intends<\/a> to appeal the conviction and sentence.<\/p>\n<p><b><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" aria-describedby=\"sk-tooltip-9096\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/onelink.to\/dwapp&#038;source=gmail&#038;ust=1690455510071000&#038;usg=AOvVaw0zc8zwWGoXeRzcNJLiJVWI\">CLICK HERE TO GET THE DAILYWIRE+ APP<\/a><\/b><\/p>\n<p>Along with becoming a giant in the crypto sphere, Bankman-Fried lobbied and donated millions of dollars to political campaigns and lawmakers. SBF donated nearly $40 million primarily to Democrat nominees and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sam-bankman-fried-charged-for-allegedly-bribing-communist-chinese-officials\/\" title=\"Sam Bankman-Fried Charged For Allegedly Bribing Communist Chinese Officials\">political action committees ahead<\/a> of the 2022 midterm elections. He was also the second-largest donor to the 2020 Biden presidential campaign and was <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-29\/bankman-fried-met-white-house-aides-in-pre-collapse-crypto-push\" target=\"_blank\" rel=\"noopener\">granted<\/a> four meetings at the White House with senior advisers in the months before his companies filed for bankruptcy.<\/p>\n<p>SBF also <a href=\"https:\/\/www.washingtonpost.com\/health\/2022\/11\/16\/sam-bankman-fried-ftx-pandemic-prevention\/\" target=\"_blank\" rel=\"noopener\">dumped millions<\/a> of dollars into \u201cpandemic prevention,\u201d which included research into the development of new treatments, including for COVID-19. Before his company FTX collapsed, it was <a href=\"https:\/\/www.forbes.com\/sites\/ariredbord\/2023\/02\/01\/tom-brady-and-other-a-listers-fumble-ftx-endorsements-but-will-they-be-held-liable\/?sh=7136bc497d8c\" target=\"_blank\" rel=\"noopener\">endorsed<\/a> by athletes and celebrities such as Tom Brady and his ex-wife Gisele B\u00fcndchen, Stephen Curry, Kevin O\u2019Leary, and Larry David, among others.<\/p>\n<p>Last March, the Justice Department unsealed more <a href=\"https:\/\/www.dailywire.com\/news\/sam-bankman-fried-charged-for-allegedly-bribing-communist-chinese-officials\" target=\"_blank\" rel=\"noopener\">charges<\/a> for SBF, alleging that he \u201cauthorized and directed a bribe of at least $40 million to one or more Chinese government officials.\u201d<\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTX founder Sam Bankman-Fried, a former billionaire entrepreneur, received a 25-year federal prison sentence on Thursday for seven counts, such as wire fraud and conspiracy, causing billions in losses. Judge Lewis Kaplan in New York imposed the sentence<\/p>\n","protected":false},"author":324,"featured_media":2208324,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/03\/GettyImages-1556770470-e1711637948137.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2208323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/03\/GettyImages-1556770470-e1711637948137.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2208323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/324"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2208323"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2208323\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2208324"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2208323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2208323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2208323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}