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Sam Bankman-Fried Sentenced to 25 Years for Defrauding FTX Investors

  In a stunning turn of events, Sam Bankman-Fried , the co-founder of the FTX Cryptocurrency Derivatives Exchange , has been handed a 25-year prison sentence . This once-prominent billionaire now faces the consequences of orchestrating one of the largest frauds in financial history . Bankman-Fried’s downfall began when FTX, the exchange he helped create, collapsed. Users were left reeling as their investments vanished. The court found him guilty on seven criminal counts in November, leading to his detention at the Metropolitan Detention Center in Brooklyn . In a federal courtroom in lower Manhattan, U.S. District Judge Lewis Kaplan delivered the verdict. He dismissed the defense’s arguments as misleading and logically flawed , emphasizing that Bankman-Fried had obstructed justice and tampered with witnesses during his defense. Clad in a beige jailhouse jumpsuit, Bankman-Fried expressed remorse, admitting to a series of “selfish” decisions that ultimately led to his downfall. Prose
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