Sam Bankman-Fried’s legal team has pushed back the government’s recommendation of a 40-to-50-year prison sentence, calling it “disturbing” and a “medieval view of punishment.”
Last week, US prosecutors recommended a staggering 40-to-50-year term for Sam Bankman-Fried, citing the severity of the financial crimes Bankman-Fried allegedly committed. However, his legal team fiercely contests these harsh recommendations, characterizing them as “disturbing” and akin to a “medieval view of punishment.”
In a letter filed on Tuesday to Judge Lewis Kaplan, Bankman-Fried’s lawyers launched a multi-pronged defense. Firstly, they denounce the government’s portrayal of the case, alleging a distortion of reality. They argue that prosecutors paint Bankman-Fried as a villainous mastermind, solely responsible for the downfall of FTX. This narrative, they claim, is demonstrably false and fueled by a desire for extreme punishment.
Secondly, the defense team takes direct aim at the crux of the government’s argument: the financial losses suffered by FTX customers and lenders. They vehemently counter this claim, asserting that ongoing FTX bankruptcy proceedings are on track to make victims whole. “The truth is, there were never losses,” the letter states. “The money has always been available. Assets remain.” This contradicts the government’s depiction of widespread financial ruin and bolsters the defense’s position that a lengthy sentence is unnecessary to achieve justice.
Finally, Bankman-Fried’s lawyers propose a far less severe sentence, suggesting a term of five to six years as a more appropriate punishment that adheres to established sentencing guidelines for similar crimes. This stark contrast between the two proposed sentences highlights the significant difference in how both sides view the culpability of Bankman-Fried and the desired outcome of the case.
The legal battle is far from over. Bankman-Fried’s sentencing hearing is scheduled for March 28. It remains to be seen whether the court will side with the government’s harsh stance or be swayed by the defense’s arguments for a more measured sentence.
Additionally, prosecutors reportedly intend to drop a second trial involving additional charges against Bankman-Fried in exchange for a faster resolution to the case. This decision suggests a potential willingness for compromise on their part, but the exact details and sentencing outcome remain to be determined.
