U.S. prosecutors have submitted sentencing recommendations for Sam Bankman-Fried, recommending to the court that the former FTX CEO be imprisoned for a minimum of 40 to 50 years.

In writing their recommendation to Judge Lewis Kaplan, who has presided over Bankman-Fried’s trial, the government emphasized that the scale and callousness of his crimes demand severe punishment under federal sentencing guidelines. 

“The defendant victimized tens of thousands of people and companies, across several continents, over a period of multiple years,” the recommendation reads. “He stole money from customers who entrusted it to him; he lied to investors; he sent fabricated documents to lenders; he pumped millions of dollars in illegal donations into our political system; and he bribed foreign officials. Each of these crimes is worthy of a lengthy sentence.”

Defense Asked for 6 Years

The government’s recommendation starkly contrasts with Bankman-Fried’s request for a mere six-year sentence, with prosecutors arguing that the enormity of his fraud, resulting in over $10 billion in losses to FTX customers and along with his consistent criminal behavior, merits a severe sentence. This stance is meant to serve justice, deter future crimes, and ensure Bankman-Fried poses no further threat of criminality, the government said.

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The government noted that its sentencing recommendation also took into consideration Bankman-Fried’s alleged campaign finance and bribery violations, as well as his failure to show remorse or accept responsibility for his actions.

Importantly, the sentencing recommendations aim to ensure Bankman-Fried is never in a position to commit fraud again. The prosecution presented to the court that, according to Bankman-Fried’s own sentencing submission, by his calculations, the “expected value of his life” is currently in “negative territory.” This mindset, they argue, combined with his track record of disregarding the consequences of offloading risk to others, will inevitably drive him to reoffend. 

Read more: SBF Trial, Day 18: Sam Bankman-Fried Found Guilty on All 7 Counts in Swift Verdict

A jury found Sam Bankman-Fried guilty on seven counts related to fraud and conspiracy on November 2, 2023. Bankman-Fried maintained his innocence throughout the trial, despite several former associates and co-conspirators testifying against him after pleading guilty themselves, including former FTX CTO Nishad Singh, former Alameda Research CEO Caroline Ellison, and FTX co-founder Gary Wang.

Sam Bankman-Fried’s sentencing hearing is scheduled for March 28, 2024.