Sam Bankman-Fried, the disgraced FTX founder, has launched a scathing rebuttal against the government’s call for a 50-year sentence in response to charges related to financial misconduct. Bankman-Fried’s legal team submitted a detailed letter to the court, countering the government’s assertions point by point.

Sam Bankman-Fried’s Legal Team Challenges Claims Made In Court

The government’s sentencing memorandum, dated March 15, 2024, was “disturbing,” according to the letter. The defense team believes that it portrayed him as a “depraved super-villain” driven by unchecked greed and malicious motives. Sam Bankman-Fried‘s defense wasted no time in dismantling these claims, accusing the government of distorting reality and adopting a medieval view of punishment.

At the heart of the dispute lies the issue of losses incurred by Bankman-Fried’s actions. Furthermore, the defense vehemently denied any substantial losses. They pointed to the ongoing FTX bankruptcy proceedings that are set to compensate victims in full. Moreover, Sam Bankman-Fried’s defense attorney argued that assets are still available.

In addition, they emphasized Bankman-Fried’s efforts to process client withdrawals, which the government allegedly refuses to acknowledge. Additionally, Bankman-Fried’s defense team challenged the government’s portrayal of their client’s character, dismissing claims of ruthless ambition as baseless.

They highlighted Sam Bankman-Fried’s history of selflessness and charitable giving, which predates his involvement with Alameda or FTX. This counters the government’s narrative of personal greed. Addressing concerns about the risk of repeating offense, the defense dismantles the government’s speculative arguments.

The team cited statistics indicating low likelihood of re-offense for first-time offenders with no criminal history. They stressed Bankman-Fried’s commitment to philanthropy and his hatred toward bringing disrepute to any charitable movement. Furthermore, Bankman-Fried’s legal team challenged the government’s unsupported claims and attacks.

They refuted allegations of evasion and deflecting blame. In addition, the team asserted Bankman-Fried’s constitutional rights to assert innocence and require proof at trial. This dismissed the government’s criticism of his defense strategy.

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Plea For Lower Sentence

Moreover, Bankman-Fried’s defense accused the government of trying to “break” the FTX founder at such a young age. They advocated for a reduced sentence in the range of 63-78 months, arguing that a life sentence would be excessive and unnecessary.

The filing added, “They ignore completely his condition and vulnerabilities. Instead, they urge, menacingly, that the sentence imposed must ‘disable’ him even from ‘being in a position’ where he theoretically ‘could’ perpetrate a fraud. That is a horrifying interpretation of specific deterrence.”

As the legal battle unfolds, the fate of Sam Bankman-Fried hangs in the balance. Whilst, his defense team fiercely contesting the government’s push for a life sentence. The court’s decision will not only impact Bankman-Fried’s future but also set a precedent for sentencing in cases of financial misconduct.

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The post SBF Trial: Sam Bankman-Fried’s Defense Urges Reduced Sentence Of 6 Years appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am