FTX founder SBF asks for 6.5-year prison sentence, tells prison guards to invest in Solana

A lawyer for former FTX CEO Sam “SBF” Bankman-Fried filed a motion in U.S. District Court in Manhattan for a federal judge to sentence him to five-and-a-quarter and six-and-a-half years in prison. SBF faces a maximum of 110 years after a jury found him guilty of multiple counts of fraud and money laundering in November last year.

SBF was charged with two felony counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of securities fraud conspiracy and one count of money laundering. Federal Judge Lewis A. Kaplan, who is overseeing the SBF case, is scheduled to announce the sentence on March 28.

While federal prosecutors are expected to submit their sentencing recommendations on March 15, a pre-sentence investigation report (PSR) recommended a 100-year sentence for the former FTX CEO.

FTX's attorneys argued that the 100-year sentence proposed by PSR was “barbaric” because SBF was a first-time offender with a past criminal record and “was joined in the act by at least four other guilty individuals who were victims. Those who were ready to recover – they were always ready to recover – a hundred cents on the dollar.” .

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The filing weighed the damage to customers, creditors and investors, which is zero, because FTX is expected to pay customers in full in bankruptcy. The legal counsel strongly supports a lenient sentence, citing several letters submitted by friends and family.

SBF is currently housed at the Metropolitan Detention Center in Brooklyn since last summer. Several stories from his time in prison have surfaced over the months, from selling mackerel for haircuts to being exploited by guards. Now another rumor has come out of his jail term. The New York Times reports that SBF is offering business and investment advice and asking prison guards to invest in Solana SOL (SOL), a crypto token with a long history.

I'll buy as much SOL as you have now for $3.

Sell ​​me whatever you want.

Then get out.

— SBF (@SBF_FTX) January 9, 2021

FTX in 2010 It was one of the largest crypto exchanges valued at $32 billion in January 2022, before collapsing in November of that year. SBF was found guilty of mismanaging $8 billion of customer funds and several other fraud charges.

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