How Many Years Will SBF Spend In Jail?
December 14, 2022
Story: Divya Sinha
On Tuesday, the US government charged SBF, former CEO of FTX, for a series of financial crimes through the multi-billion-dollar collapse.
The 13-page indictment alleges that since 2019, SBF devised schemes and tactics to defraud FTX customers and investors.
On Monday, Former FTX CEO Sam Bankman-Fried got arrested in the Bahamas at the behest of US prosecutors.
The US government has charged him with eight criminal violations from wire fraud to money laundering to conspiracy to commit fraud.
According to Nicholas Biase, a spokesperson for US prosecutors said that the charges could land SBF in jail for decades, carrying maximum penalties of 115 years
The SEC alleges that Bankman-Fried deceived investors and illegally used the money to purchase real estate for himself and his family.
On November 11, FTX and its affiliates filed for bankruptcy after SBF resigned from his CEO position.
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