- SBF lawyers addressed the court.
- They demanded that the maximum sentence be set at 6.5 years.
- In the memo, they cited SBF’s charitable work as well as his remorse.
- The trial will tentatively take place on March 28.
Lawyers for former CEO of the FTX exchange Sam Bankman-Fried (SBF) filed a new memorandum with the court. In it, they demanded that the maximum penalty in case of conviction be set at 6.5 years in prison.
The lawyers cited a number of factors as arguments in favor of this decision:. These, in their opinion, are the successful investments of FTX, the charitable activities of SBF, his repentance and the general trend towards recovery of the crypto market.
“When the stated mitigating factors are taken into account, including a demonstrated commitment to others, a sentence that will quickly return Sam to a productive role in society is sufficient,” the memorandum states.
The defense is likely based on the exchange’s investment in AI startup Anthropic. Let us remind you that FTX received court permission to sell its stake, which is estimated at more than $1 billion, taking into account the increased valuation of the company.
Lawyers insist that the maximum sentence should not exceed 78 months of imprisonment (6.5 years). A sentence of 56 months (4.6 years) would be preferable, but the defense agrees to 63 months (5.2 years).
In addition, the lawyers insist that SBF’s accounts and assets should not be confiscated because “they did not benefit him personally.”
The hearing on this case will take place tentatively on March 28, 2024. SBF was found guilty on all counts during the trial in November 2023. Incrypted kept a detailed log of the process:
Conditions of detention
In the run-up to the last trial, SBF repeatedly complained about “inhumane” prison conditions. In particular, he was not given the opportunity to use a laptop to prepare for the trial, and was deprived of a vegan menu and medications.
Later, information appeared that the former CEO of FTX faced extortion in prison. At the same time, according to the prisoner, SBF was kept in a block with “representative” people.
A defendant awaits trial at a pre-trial detention center in Brooklyn.. According to The New York Times, SBF spends most of its time preparing for the trial.. At the same time, he monitors the situation on the crypto market and even recommended that security guards invest in Solana (SOL), the publication noted.