Prosecutors in the state of Manhattan, USA, have requested 40 to 50 years in prison for Sam Benkman-Fried, the former CEO of the digital currency exchange FTX. He has been found guilty of defrauding the customers of this now bankrupt exchange of 8 billion dollars.
According to Tekna digital currency news service, in November, the jury found Bankman-Farid, who is 32 years old, guilty of seven counts of fraud and conspiracy. Prosecutors say FTX was trusted by thousands of ordinary people. Even now, prosecutors say, Benkman-Fried has not apologized for his wrongdoing. They are also looking to capture $11 billion.
Benkman-Farid's lawyer believes that 5 to 6 years in prison is enough for him and says that most of the clients' money will be returned. The final Benkman-Farid verdict will be announced on March 28. He intends to appeal.
Prosecutors have asked for a harsher sentence, citing his education and high social status. In court, Benkman-Farid's former colleagues testified that he used clients' money to pay off his own company's losses. He has also used this money to buy luxury real estate and donate money to politicians in favor of digital currencies.
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