Sam Bankman-Fried sentenced to 25 years in prison for FTX fraud

#sbf #ftx #prison #sambankmanfried #yahoofinance #crypto

FTX founder and CEO Sam Bankman-Fried was sentenced to 25 years in prison on Thursday. He faced up 110 years, with prosecutors wanting him to serve 40 to 50 years. Bankman-Fried's lawyers requested no more than six and a half years. Bankman-Fried was convicted in November of seven counts of fraud and conspiracy after being accused of using FTX customer funds to cover losses at his hedge fund. Yahoo Finance's Jennifer Schonberger reports the breaking details. For more expert insight and the latest market action, click here to watch this full episode of Wealth! Editor's note: This article was written by Stephanie Mikulich.

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