look news india
Crypto Fraud News : In the US, FTX founder Sam Bankman Fried was sentenced by a judge to 25 years in prison. Fried was accused of defrauding cryptocurrency exchange customers of $8 billion through his company FTX. After committing this fraud his company was declared bankrupt. Prosecutors described the case as the largest financial fraud in American history.
Bankman Fried's claims rejected
During the hearing, Manhattan District Judge Lewis Kaplan rejected Bankman-Fried's claims that FTX clients did not lose money and that perjury was presented against her. A jury convicted Bankman of seven counts of fraud and conspiracy related to the collapse of FTX in 2022.
Bankman Fried has no regrets..
Kaplan said Bankman-Fried has no regrets. Before handing down the sentence, the judge said that Bankman knew he was doing wrong. He knew he was a criminal, but was unwilling to confess anything, as was his right. During the hearing, the judge admitted that Bankman had lied during the hearing.
The court had earlier given this decision
US District Judge Lewis Kaplan said the defendant had attempted to tamper with witnesses, the court said earlier in its ruling. Bankman-Fried was ordered returned to federal custody for this crime.