SBF lawyers file petition to reduce prison time to less than 6.5 years
The lawyers argue that a sentence of decades-long duration would end Sam’s ability to lead a "meaningful" life.
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Defense lawyers for Sam Bankman-Fried (SBF) have filed a to a US court for a more lenient sentence.
According to the filing, the lawyers argue that Sam Bankman-Fried should be given a maximum prison sentence of between 63 to 78 months. This argument was in response to a court discussion where the disgraced FTX founder was provided with estimates for as much as 100 years of imprisonment for seven counts of fraud and conspiracy.
The 98-page filing emphasized Bankman-Fried’s morality and philanthropic endeavors and that the latter’s “actions were never motivated by greed or status.” The lawyers then cited numerous letters given by family and prominent close friends that attested to Bankman-Fried’s character.
This ostensibly immaculate character (as described) became the primary case against the 100-year sentence, which the defense subsequently called “grotesque”. In the filing, it was claimed that “a sentence of decades-long duration would end Sam’s ability to lead a meaningful life and contribute to the neediest in society.”
The defense team finally urged Bankman-Fried’s prompt return to the “productive role” he has on society at large. Notably, over a week ago, surfaced, with a former inmate interviewed about his behavior.
According to the former inmate, SBF was a “good guy” despite his strange behavior inside the Metropolitan Detention Center in Brooklyn. Recent reports indicate that the former FTX exec has been spending his jail time .
The 63 to 78-month calculation was based on the defense’s objections to the initial Pre-Sentence Report (PSR) by the New York court. The defense strongly objected to the estimated $10 billion dollar loss reported by the PSR. The initial Adjusted Offense Level of 56 would thus be reduced by 30 points to just 26, leading to the 63 to 78-month estimate.
Bankman-Fried was previously found guilty by a New York jury of defrauding investors of FTX and Alameda Research in what was termed one of the largest financial frauds in U.S. history. The case sent shockwaves throughout the entire cryptocurrency sphere. Bankman-Fried is scheduled to be sentenced for the case next month, March 28 2024.
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