Sam Bankman-Fried’s legal team is seeking a lighter-than-recommended sentence for the convicted founder of the bankrupt crypto exchange platform FTX.
In a new court filing, Bankman-Fried’s lawyers say they disagree with the Presentence Investigation Report (PSR) recommendation that the former executive should be sentenced to 100 years behind bars.
The PSR – which is prepared by the U.S. Probation Office to help courts determine the appropriate sentence for a convicted person – includes an offender’s entire life background.
Bankman-Fried’s attorneys say the court should reject what they call a “grotesque” proposal.
“The PSR recommends that the Court sentence Sam to 100 years in prison.
That recommendation is grotesque. Sam is a 31-year-old, first-time, non-violent offender, who was joined in the conduct at issue by at least four other culpable individuals, in a matter where victims are poised to recover – were always poised to recover – a hundred cents on the dollar.”
They say that a 100-year sentence should be reserved for those who committed more serious offenses, such as Al-Qaeda members who were involved in terror acts.
Furthermore, the lawyers say that a lighter sentence – one with a maximum of 78 months – is more appropriate for Bankman-Fried when all factors are considered.
“Sam Bankman-Fried respectfully submits that, for the reasons set forth above, an appropriate method of arriving at a just sentence would be to consider the Adjusted Offense Level (Subtotal) of 56, reduced by 30 levels based on zero loss, which yields an advisory guidelines range of 63-78 months.
When the factors are considered, including Sam’s charitable works and demonstrated commitment to others, a sentence that returns Sam promptly to a productive role in society would be sufficient, but not greater than necessary, to comply with the purposes of sentencing.”
Bankman-Fried was convicted of defrauding investors and mishandling billions of dollars worth of customer funds last year connected to the 2022 collapse of FTX.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
