SBF Sentencing: Judge Sets 1,320-Months Imprisonment
The post SBF Sentencing: Judge Sets 1,320-Months Imprisonment appeared first on Coinpedia Fintech News
According to Inner City Press, the judge stated that SBF’s standard in this case is life imprisonment, which would be a maximum of 1,320 months (110 years). After the liquidator sold SOL for $10 billion at a 70% discount, victim Sunil accused them of violating creditors’ property rights. As a result of the FTX fraud, at least three people committed suicide. Additionally, the judge determined that FTX’s deception cost more than $550 million in total. More beyond that is “just gravy,” Kaplan said, referring to the fact that additional losses would not raise the top end of the guidelines.
According to Inner City Press, the judge stated that SBF’s standard in this case is life imprisonment, which would be a maximum of 1,320 months (110 years). After the liquidator sold SOL for $10 billion at a 70% discount, victim Sunil accused them of violating creditors’ property rights. As a result of the FTX fraud, at least three people committed suicide. Additionally, the judge determined that FTX’s deception cost more than $550 million in total. More beyond that is “just gravy,” Kaplan said, referring to the fact that additional losses would not raise the top end of the guidelines.