Sam Bankman-Fried, founder of FTX, has been sentenced to 25 years in federal prison for fraud. However, due to good behavior, he may serve as little as 12.5 years. The First Step Act, intended to help non-violent drug offenders, has inadvertently benefited white-collar criminals like Bankman-Fried. Judge Kaplan recognized Bankman-Fried’s privileged background, autism, and ambition to be politically influential as factors in his financial crimes. Bankman-Fried’s sentence is among the longest in white-collar fraud cases, exceeding that of Elizabeth Holmes and rivaling Bernie Madoff. The prosecutor emphasized that the FTX fraud was not merely a financial loss, calling attention to the $8 billion in stolen customer funds.
https://www.cnn.com/business/live-news/sam-bankman-fried-sentencing-03-28-24/index.html