Posted 4/2/2024, 4:42:00 AM
Bankman-Fried Haunted by FTX Collapse, Sentenced to 25 Years Despite Remorse
- Sam Bankman-Fried says he's "haunted, every day" by FTX's collapse and never thought what he was doing was illegal
- Bankman-Fried was convicted of 7 criminal counts including fraud and money laundering, sentenced to 25 years in prison
- Judge said Bankman-Fried knew his actions were criminal but made a "bad bet" on not getting caught
- Bankman-Fried expressed remorse, saying as FTX's CEO he was responsible though he never intended to hurt anyone
- FTX's new CEO disagreed with Bankman-Fried, said he left company insolvent and creditors could recover assets only because he was removed