Sam Bankman-Fried has been sentenced to 25 years in prison. Fatih Aktas/Anadolu Agency via Getty Images
Sam Bankman-Fried says he’s haunted by what’s happening at FTX “every day.”
The disgraced crypto mogul told ABC Newshe never thought that what he did was illegal.
Bankman-Fried was sentenced last week to 25 years in prison on seven counts.
Former FTX CEO Sam Bankman-Fried says he “never intended to hurt anyone or take money from anyone.” He didn’t think his actions were illegal.
“I tried to hold myself to a high standard and I certainly fell short of that,” the disgraced crypto mogul said in a statement published on Monday Interview with ABC News. Bankman-Fried was found guilty on seven counts, including fraud and money laundering, and sentenced Thursday to 25 years in prison.
“He knew it was wrong. He knew it was criminal. And he regrets making a very bad bet about the likelihood of getting caught,” U.S. District Judge Lewis Kaplan said of Bankman-Fried on Thursday.
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The rise and fall of former crypto billionaire Sam Bankman-Fried, who has now been sentenced to 25 years in prison
In an interview with ABC News, Bankman-Fried expressed remorse for his actions. “I am haunted every day by what I have lost. “I never intended to hurt anyone or take anyone’s money,” Bankman-Fried told the station, “but I was the CEO of FTX, I was responsible for what happened to the company, and when you’re responsible, It doesn’t matter why it goes wrong.”
FTX’s implosion in 2022 ruined its customers’ finances. Some of them complained that they lost their life savingsafter the crypto exchange collapsed.
Lawyers want to take action against the verdict
“I would give anything to repair even some of the damage. I’m doing what I can from prison, but it’s very frustrating not being able to do more,” he continued. A representative for Bankman-Fried told Business Insider that he would have no further comment on the interview.
Bankman-Fried’s legal counsel, the originally called for a sentence of 6.5 years announced that he would appeal. Before Thursday’s sentencing, Bankman-Fried’s lawyers argued that the The public prosecutor’s office overstated her client’s crimes.
New FTX CEO gives debtors little encouragement
His lawyer Marc Mukasey argued in one Judgment memorandum on Feb. 27 that FTX’s victims “are able to get a hundred cents back on the dollar – they’ve always been able to do that.”
In February, lawyers for the FTX debtors said in a Delaware bankruptcy court that the creditors and customers can count on compensation (Axios).
FTX’s new CEO, John Ray III, but has contradicted Bankman-Fried’s claims. In one Writefiled in New York District Court on March 20, Ray explained that FTX could only recover some of its assets because they removed Bankman-Fried from the company.
“Mr Bankman-Fried continues to lead a life of delusion. The company he left on November 11, 2022 was neither solvent nor safe,” Ray wrote.
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