‘I didn’t think what I was doing was illegal.’
Former FTX CEO Sam “SBF” Bankman-Fried has reportedly responded to inquiries from news outlets following his 25-year federal prison sentence.
According to an April 1 report from ABC News, Banman-Fried responded to questions by email from the Metropolitan Jail 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 in prison after pleading guilty to seven felony counts.
“I never thought what I was doing was illegal,” SBF said, according to ABC. “Every day, I worry about what's gone. I never intended to hurt anyone or take anyone's money.
Many of Bankman-Fried's answers to questions seem to avoid responsibility for the crypto exchange crash in November 2022, saying he “made bad decisions” but was not selfless or selfish. His statement echoes his pre-judgment statement, essentially explaining his actions before FTX declared bankruptcy and that the exchange would “survive” and its customers would be paid.
The statement to ABC may have been one of the last SBFs made before they went to federal prison. Judge Kaplan recommended that the former CEO serve the remainder of his sentence in a medium- or low-security prison in the San Francisco Bay Area.
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A March 28 document entry indicated that Banman-Fried will serve 24.25 years after being sentenced by Judge Kaplan, taking into account the months he already spent in prison. Legal experts have indicated that the former CEO could receive a prison sentence of years due to good behavior, but there is no parole period in federal prisons.
Bankuman-Fried's lawyers said they plan to appeal the verdict on March 28. No appeals have been filed at the time of publication.
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