Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Sheikh Qassem: Resistance is a source of power for Lebanon that must be preserved.
Sheikh Qassem: "Israel" must implement the agreement as Lebanon has already done so, and any new accord would amount to absolving it and opening the door to further attacks.
Sheikh Qassem: We do not wish to assume anyone's role; those accusing us of this must cease their accusations.
Sheikh Qassem: We will recover our lands through national solidarity; Resistance's goal is national liberation, while enemy goal is occupation.
Sheikh Qassem: Protection of sovereignty protects Lebanon. It is in real danger because of US belligerence, greedy Israeli expansion.
Qassem to Lebanese people: We are not asking for support but for us not to be stabbed in the back in the back or for some to serve Israeli interests; government is primary party responsible for [preservation of] sovereignty.
Sheikh Qassem: "Israel" can occupy, but it cannot persist in occupation of our land.
Sheikh Qassem: Intimidation will not change our stance of resistance and steadfastness. We are not advocates of surrender or defeat, and we will never accept it.
Sheikh Qassem: Where does US stand regarding enemy's unjustified assassination of a government worker and other civilian martyrs?
Sheikh Qassem: Is the Lebanese Army's defense of its land and citizens an accusation [leveled against it]? Where does US stand regarding the enemy's killing of civilians and constant destruction?

Sam Bankman-Fried to be sentenced for multi-billion FTX fraud today

  • By Al Mayadeen English
  • Source: Agencies
  • 28 Mar 2024 15:37
  • 1 Shares
3 Min Read

Bankman-Fried is looking at a statutory maximum of 110 years, however, he will probably be sentenced to less as his sentencing is set to begin at 9:30 am EDT.

  • x
  • FTX founder Sam Bankman-Fried leaves Manhattan federal court, on June 15, 2023, in New York.(AP)
    FTX founder Sam Bankman-Fried leaves Manhattan federal court, on June 15, 2023, in New York. (AP)

The former billionaire cryptocurrency tycoon, Sam Bankman-Fried, is set to be sentenced today at 9:30 a.m. EDT (1330 GMT) before US District Judge Lewis Kaplan in Manhattan, over his conviction for stealing $8 billion from customers of his now-bankrupt FTX exchange company. 

Today's hearing will highlight the peak of Bankman-Fried's downfall from an extremely wealthy cryptocurrency tycoon and huge political donor, with funds previously given to US President Joe Biden, to the US authorities' biggest win to date in a hunt for malfeasance in digital assets markets.
  
Bankman-Fried is looking at a statutory maximum of 110 years, however, he will probably be sentenced to less.

Prosecutors suggested a 40-50-year sentence

US Prosecutors said on March 15 that Sam Bankman-Fried deserves a 40 to 50 years prison sentence. 

In their sentencing memorandum, the prosecutors wrote, "Even now, Bankman-Fried refuses to admit what he did was wrong."

Related News

Prosecutors recommend 40-50 years sentence for Bankman-Fried

"His life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people's money," they added. 

The prosecutors have set $11 billion in forfeiture, to compensate for FTX's investors and Alameda's lenders' losses.

A jury found Bankman-Fried guilty in November of seven counts of fraud and conspiracy. Federal prosecutors in Manhattan stated that "thousands of everyday people," including residents of war-torn and unstable countries, had entrusted their funds to FTX.

Bankman-Fried's lawyer Marc Mukasey told US District Judge Lewis Kaplan that a 5-1/4 to 6-1/2 year prison term would be fit, believing that FTX clients would retrieve most of their money and that Bankman-Fried did not intend to steal.

The Spokesperson for Bankman-Fried Mark Botnick stated that Mukasey would file a response this week in response to the prosecutors' memorandum as Bankman-Fried's sentence is set for today in Manhattan Federal court and he is planning on appealing his sentence and conviction. 

Arrested in 2022

In December 2022, Bankman-Fried was arrested in the Bahamas, FTX's base, and extradited to the US.

Since August last year, the former billionaire has been in jail at Brooklyn's Metropolitan Detention Center when Kaplan took back his bail upon discovery of his involvement in witness tampering. 

  • FTX cryptocurrency
  • United States
  • FTX
  • Manhattan
  • Sam Bankman-Fried
  • cryptocurrency fraud
  • Joe Biden

Most Read

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Hi-tech holocaust: Microsoft’s role in Gaza genocide

Microsoft's role in world’s first AI-driven genocide, in Gaza, exposed

  • Technology
  • 28 Oct 2025
Sheikh Naim Qassem speaks during an interview with Al-Manar TV, October 26, 2025 (Screenshot)

Hezbollah ready to face 'Israel' in case of war: Sheikh Naim Qassem

  • Politics
  • 27 Oct 2025
The secret cloud deal: Google and Amazon “winking” pact with 'Israel'

With a 'wink', Israeli control over Google, Amazon cloud data exposed

  • Technology
  • 29 Oct 2025

Coverage

All
War on Gaza

Read Next

All
ap
Politics

Hamas calls on int’l community to act against Israeli settlement plan

In this Nov. 9, 2017, file photo, U.S. President Donald Trump, right, chats with Chinese President Xi Jinping during a welcome ceremony at the Great Hall of the People in Beijing. (AP)
Economy

Ex-US diplomat says Trump-Xi deal 'tactical retreat', not lasting deal

An unarmed Minuteman II intercontinental ballistic missile launches from Vandenberg Air Force Base, California, during a test in 2002. (US Air Force)
Politics

JD Vance defends Trump's nuclear test plan as 'crucial for security'

Ultra-Orthodox Jews attend the "million man" protest against military conscription, in occupied al-Quds, October 30, 2025 (AFP)
Politics

Haredi mass rally in al-Quds exposes Zionist regime's growing crisis

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS