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‘I By no means Thought That What I Was Doing Was Unlawful,’ SBF Says as He Begins Jail Sentence

Picture: Tom Williams/CQ-Roll Name, Inc through Getty Pictures (Getty Pictures)

Days after Sam Bankman-Fried obtained a 25-year prison sentence, the FTX founder launched an announcement to ABC News saying how sorry he was about his crimes. He says he made some “dangerous choices” and didn’t notice that his billion-dollar Ponzi scheme wasn’t unlawful.

“I attempted to carry myself to a excessive normal, and I definitely didn’t meet that normal,” he informed ABC Information through electronic mail from the Metropolitan Detention Heart in Brooklyn. “It’s most of what I take into consideration every day. I’m haunted, daily, by what was misplaced. I by no means meant to harm anybody or take anybody’s cash.”

Bankman-Fried is about to be in jail till he’s 57 years previous, although he may see early launch if he reveals good habits.

Prosecutors initially sought a punishment of 40-50 years for Bankman-Fried’s crimes, which included fraud, conspiracy, and money laundering. The founder and CEO was convicted on expenses associated to the misuse of greater than $8 billion of FTX clients’ funds and one other $2 billion from traders and lenders. SBF was additionally discovered responsible of perjury thrice by the decide for mendacity below oath throughout his trial.

FTX clients, luckily, look like on the street to compensation. Final week, the corporate sold its stake in Anthropic, an organization creating AI that’s in competition with OpenAI. The proceeds from the deal, if accredited, may go to these FTX clients who have been defrauded by the corporate below SBF’s reign.

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