Days after Sam Bankman-Fried received a letter 25 years in prisonFTX founder issued a statement abc news Said he was very sorry for his crime. He said he made some “bad decisions” and didn’t realize his multibillion-dollar Ponzi scheme wasn’t illegal.
“I tried to hold myself to a high standard, but I certainly didn’t meet it,” he told ABC News via email from the Metropolitan Detention Center in Brooklyn. “That’s a lot of what I think about every day. I’m haunted every day by what I’ve lost. It was never my intention to hurt anyone or take anyone’s money.”
Bankman-Fried will remain behind bars until he is 57, although he could be released early if he behaves well.
Prosecutors initially sought a sentence of 40 to 50 years in prison for Bankman-Fried’s crimes, which included Fraud, conspiracy and money laundering. The founder and CEO was convicted of misusing more than $8 billion of FTX client funds and another $2 billion from investors and lenders. SBF was also found guilty of perjury three times by the judge for lying under oath during the trial.
Fortunately, FTX customers appear to be paying off their debts.Last week, the company Sells its stake in Anthropica company developing artificial intelligence Competing with OpenAI. If the deal is approved, proceeds could go to FTX customers who were defrauded by the company under SBF.