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The protection staff introduced a number of letters from Bankman-Fried’s family and friends, all advocating for a lenient sentence.
Sam Bankman-Fried (SBF), the disgraced founder and former CEO of the defunct crypto change FTX, is looking for a jail sentence of 63 to 78 months, roughly 6.5 years, in keeping with a court docket submitting.
SBF, who is because of be sentenced subsequent month, filed a motion by his authorized staff on the US District Court docket of Southern New York, asking the decide for a good sentence. Initially, the Presentence Investigation Report (PSR) urged that the FTX founder may very well be in jail for as much as 100 years.
A Sociopath and Shameless Liar
Of their argument, Bankman-Fried’s legal professionals appealed to the court docket to grant the request for a simply jail time period, citing his background as a 31-year-old, first-time, non-violent offender. The legal professionals claimed that he was not the only participant within the fraudulent actions and that victims are anticipated to completely get well their losses.
Regardless of being described as a “sociopath”, “an ice-cold manipulator”, “bully”, and “shameless liar”, the disgraced FTX founder is portrayed by his legal professionals as somebody “devoted to doing good on the earth”. They emphasised that those that know him describe him as selfless, altruistic, and genuinely involved for these much less lucky all over the world.
For these causes, the attorneys urged an adjusted offense stage based mostly on “zero loss”, which might lead to a decrease advisory Pointers vary. They argued {that a} longer sentence might jeopardize SBF’s capability to reintegrate into society after launch.
“A sentence of decades-long period would finish Sam’s capability to guide a significant life and contribute to the neediest in society,” the submitting reads.
SBF’s Mates Advocates for Honest Sentencing
The protection staff additionally introduced a number of letters from Bankman-Fried’s family and friends, all advocating for a lenient sentence. One notable letter got here from Carmine Simpson, a fellow inmate, who highlighted the challenges Bankman-Fried may face in jail, together with being a goal for hazing, harassment, and assault attributable to his high-profile case and former wealth, which have led to a number of extortion makes an attempt.
Moreover, a letter from Jamie Forrest, PhD, the Govt Advisor to Goal Africa, was submitted. Goal Africa is a challenge of Goal Life Sciences that focuses on strengthening African well being programs by public well being and medical analysis. The letter attested to SBF’s character and involvement in philanthropic endeavors.
A Barbaric Proposal
The protection staff known as the PSR’s advice of as much as 100 years in jail “grotesque,” arguing that such a sentence must be reserved for offenders who dedicated crimes similar to homicide.
“Sam is a 31-year-old, first-time, non-violent offender, who was joined within the conduct at challenge by at the least 4 different culpable people, in a matter the place victims are poised to get well – have been at all times poised to get well – 100 cents on the greenback. 100-year sentence must be reserved for the sort of heinous conduct this Court docket confronted in United States v. El-Hage,” reads the submitting.
In addition they disputed the PSR’s estimation of losses within the chapter, stating that $10 billion is an unreasonable determine. They asserted that Bankman-Fried’s actions weren’t pushed by greed or a want for standing, urging the court docket to reject the PSR’s suggestion, calling it a barbaric proposal.
SBF, as soon as hailed because the crypto white knight in the course of the 2022 market winter, was convicted of fraud and different felony actions final 12 months for commingling clients’ funds. Prosecutors described the heist as “one of many greatest monetary frauds within the historical past of the USA”.
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