Sam Bankman-Fried’s Surprising Legal Perspective

Former FTX CEO Sam “SBF” Bankman-Fried has reportedly provided responses to inquiries from news outlets after being sentenced to 25 years in federal prison. According to ABC News, Bankman-Fried replied via email from the Metropolitan Detention Center in Brooklyn, where he has been held since August 2023. On March 28, Judge Lewis Kaplan of the United States District Court for the Southern District of New York sentenced the former FTX CEO to 25 years following his conviction on seven felony counts.

SBF stated in the email, “I never believed that what I was doing was against the law. I am tormented every day by the losses incurred. My intention was never to harm anyone or take their money.” Many of Bankman-Fried’s responses seemed to evade responsibility for the collapse of the crypto exchange in November 2022. He admitted to making “poor decisions” but denied acting out of selflessness or selfishness. This statement aligned with his previous claims before the sentencing, where he attempted to justify his actions and argued that FTX would have survived, enabling customers to recover their funds.

The email sent to ABC News may be one of the last communications made by SBF before beginning his federal prison sentence. Judge Kaplan recommended that Bankman-Fried serve the remainder of his term at a medium- or low-security prison in the San Francisco Bay Area. According to court documents, he is expected to serve approximately 24.25 years, considering the time already spent in custody. While legal experts suggest that the former CEO could earn sentence reductions for good behavior, parole is not available within the federal prison system.

On March 28, Bankman-Fried’s attorneys announced their intent to appeal the verdict. No appeal had been officially submitted at the time of this publication.

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