Posted 3/19/2024, 5:20:00 AM
FTX Creditors Detail Financial and Emotional Hardship Ahead of Bankman-Fried Sentencing
- FTX creditors submitted victim impact statements describing financial and emotional toll of FTX bankruptcy ahead of Sam Bankman-Fried's sentencing
- Statements detail creditors' financial reliance on FTX funds, current unemployment/disability status, and perception FTX was safe
- Some statements follow a form letter format with personalized account value and loss amount details
- Victims argue they should receive compensation reflecting lost value from length of bankruptcy proceedings
- Statements aim to support DOJ proposal for 40-50 year sentence for Bankman-Fried after fraud conviction