Sam Bankman-Fried live updates: 'Crypto King' sentenced to 25 years prison

by 24britishtvMarch 28, 2024, 6 p.m. 19
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White collar crime expert, Western New England University School of Law Professor Jennifer Taub, says the length of the sentence is appropriate, pointing out that “white collar crime is not victimless”.

“It is the right balance between how old he is and what is the purpose of deterrence. He will be getting out in his fifties," she says.

Taub tells me Judge Lewis Kaplan "knows the type of sentences people normally get." She pointed out that convicted fraudster Elizabeth Holmes is set to serve just over 10 years for her role in wire fraud at the now defunct blood testing company Theranos.

The sums involved in that case, she noted were substantially less than the $8bn dollars lost at FTX.

"Someone in their fifties won’t be such a wunderkind", she adds, meaning the judge may have felt Sam Bankman-Fried could change and "might have lost the inclination to cheat people."

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