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Sam Bankman-Fried was sentenced to 25 years in federal prison after being found guilty on charges of fraud and conspiracy last year. The FTX founder was originally arrested in December 2022 in the Bahamas after defrauding users of $8 billion USD. He had used the money to fund FTX's sister crypto exchange, Alameda Research, as well as his own lavish lifestyle.
Prosecutors had been arguing for 40 to 50 years in prison, while the defense wanted a maximum of six and a half years. Bankman-Fried returned to a Manhattan court earlier this morning, where a judge said had lied during the trial before handing down the sentence.
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