According to a Tuesday filing, Sam Bankman-Fried’s lawyers have argued to a U.S. judge that a sentence between 63 to 78 months is fit for the former FTX boss.

The Presentence Investigation Report (PSR) recommends SBF’s sentence as 100 years in prison for stealing $8 billion from FTX customers, which his lawyers describe as “barbaric” and “grotesque.”

SBF’s Legal Team Seeks Leniency

SBF’s lawyers made the request to U.S. District Judge Lewis Kaplan ahead of the planned sentencing on March 28 in the Manhattan federal court. The lawyers argued that a fair approach to developing a suitable sentence should involve calculating the offense level with a “zero loss” adjustment, hence, a recommended sentencing guideline range of 63 to 78 months.

They added that when considering all relevant factors, such as the defendant’s charitable efforts and proven dedication to benefiting others, a sentence swiftly reintegrating the individual into a constructive societal role would fulfill the sentencing objectives without being extreme. Furthermore, SBF, they said, is 31 years old with no prior offenses and has not engaged in violent acts.

Since the FTX trial last year, SBF has hired Marc Mukasey, previously counsel for former President Donald J. Trump, to lead his sentencing. This came after he replaced his trial attorneys, Mark Cohen and Christian Everdell.

He also secured representation for the appeal from another attorney at Shapiro Arato Bach. His defense efforts are also being supported by his parents, Joe Bankman and Barbara Fried, law professors at Stanford University, helping organize people to write supportive letters for their son to be included in the sentencing memo.

SBF Faces Potential Decades in Prison

Federal prosecutors are expected to give their sentencing recommendation on March 15. Even if Judge Kaplan opts not to apply the maximum sentence, SBF could still be looking at a substantial period of incarceration.

Miriam Baer, Vice Dean at Brooklyn Law School, mentioned that given SBF’s youth, the judge could impose a huge sentence of 30 to 35 years.

According to NYTimes, Sam Bankman-Fried (SBF) has been detained at the Brooklyn Metropolitan Detention Center since last summer. During his detainment, he allegedly shared cryptocurrency market tips with guards and recommended investing in Solana, a popular blockchain platform.

Throughout the trial, SBF has maintained his innocence. Mukasey has previously demonstrated his legal prowess, recently securing a lighter sentence for Nikola, Trevor Milton, the founder of the electric truck manufacturer. Convicted of investor fraud in 2022, Milton received a four-year prison term in December, significantly less than the 11 years sought by prosecutors.

The post This Is the Prison Sentence Requested by Sam Bankman-Fried’s Legal Team appeared first on CryptoPotato.

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Filed under: Bitcoin - @ February 28, 2024 11:14 am