Sam Bankman-Fried was found guilty of cheating investors and customers and was given a 25-year sentence in federal prison.
$8 billion was pilfered by Bankman-Fried from users of his Bitcoin exchange, FTX.
He was aware of its error. He was aware that it was illegal. He feels awful about the poor wager he placed on the possibility of being discovered. However, as is his right, he will not acknowledge anything, U.S. District Judge Lewis Kaplan stated.
"A burglar who transports his loot to Las Vegas and wins by placing bets with the money he stole is not eligible for a sentencing reduction by using the money he wins there to repay the money he stole.”
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