Posted 2/16/2024, 2:01:00 PM
Bankman-Fried Faces Sentencing Next Month Despite Creditors Eventually Being Repaid
- Sam Bankman-Fried faces sentencing next month for fraud related to the FTX collapse
- Creditors likely to be made whole thanks to crypto market rebound, which could mean a lighter sentence
- Restitution is a sentencing factor, but only if paid before offense was detected
- In this case, Bankman-Fried not repaying funds himself post-detection
- Magnitude of offense could still lead to harsh sentence despite eventual creditor repayment