SBF lawyers fight back against tough 40- to 50-yea

Sam Bankman-Fried will be sentenced on March 28, 2024, before New York District Judge Lewis Kaplan.

In a letter to District Judge Lewis Kaplan on Tuesday, the legal team behind embattled FTX founder Sam Bankman-Fried challenged the sentence proposed by the U.S. Department of Justice last week.

U.S. prosecutors had previously proposed a prison sentence of 40 to 50 years for the former FTX CEO, but lawyers called the memo "troubling."

SBF lawyers shouted "This is injustice"

In a letter filed on March 19, lawyers for SBF argued that the memo paints a distorted picture of reality and unfairly paints the embattled executive as a "supervillain" figure with exaggerated motives. And baseless.

They also criticized the memo for its extreme predictions about SBF's future behavior and argued for overly harsh penalties, equivalent to life sentences, which they considered unjust.

"The government is hell-bent on portraying Sam as a monster, with repeated references to his 'unparalleled greed' and his alleged ruthless desire to maximize his personal wealth. It's a simple and seductive narrative, and it's also a false one. . The word 'greed' was never uttered by any of the trial witnesses. The government also ignored those who knew Sam over the years and claimed he acted selflessly."

The lawyers further asserted that someone like SBF, who has no criminal record, is even less likely to commit such a crime again. They argue that the severity of the crime itself does not indicate a higher likelihood of re-offending.

In addition, they highlight research showing that people with higher levels of education (such as university degrees) are less likely to engage in "re-offending" behaviour, suggesting that individuals from SBF's background who were convicted of fraud and other crimes in the last year have a low risk of re-offending.

Sam Bankman-Fried’s historic fraud case

Bankman-Fried was convicted last year by a New York jury for defrauding investors in FTX and Alameda Research in November. The indictment includes two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy.

The defense team urged the U.S. court to consider the length of the crime from 63 to 78 months, criticizing the 100-year sentence proposed in the pre-sentencing report as extreme. #SBF #FTX

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