Sam Bankman-Fried, founder of cryptocurrency company FTX, was sentenced to 25 years in prison in the United States on Thursday, MTI reported.
A New York court convicted the 32-year-old former billionaire businessman last November on charges including financial fraud and embezzlement.
The prosecution demanded a prison sentence of between 40 to 50 years. His lawyers indicated that they would appeal against the conviction and sentence.
When announcing the sentence, the competent judge pointed out that the convict was aware that he had committed a crime and did not express any remorse afterward.
Through the actions of Sam Bankman-Fried, clients of the FTX cryptocurrency exchange lost $8 billion, the company's investors lost $1.7 billion, and Alameda Research, an investment firm affiliated with the company, caused another $1.3 billion in damage.
FTX collapsed in the fall of 2022, and Bahamian authorities detained Sam Bankman-Fried in December 2022 and then handed him over to US authorities.
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