Legal Experts Reveal Why FTX’s Sam Bankman-Fried Will Get Reduced Prison Sentence

Sam Bankman-Fried’s (SBF) sentencing is slated for March 28, 2024, with the defendant facing up to 110 years after being convicted of all seven charges leveled against him. In line with this, some legal experts have weighed in, explaining why the former FTX CEO could get a shorter sentence and factors that could also affect his sentencing. 

How Many Years Will Sam Bankman-Fried Get?

In an interview with Unchained Crypto, Sam Enzer, a partner at Cahill Gordon & Reindel, mentioned that he expects Judge Lewis Kaplan will hand Sam Bankman-Fried a sentence of over 20 years based on the magnitude of the crime and the need for deterrence. Enzer had before then mentioned certain factors which could play in the mind of the court.

One of them happens to be the age of the defendant and if Bankman-Fried could be rehabilitated well enough to be integrated back into the system at around 60 years (assuming he got a sentence of 30 years.) He believes that the court may find it hard to answer such a question as it is hard to tell if a person at 60 years old could provide any much value to society. 

Meanwhile, Rich Cooper, a former SDNY (Southern District of New York) Prosecutor, also weighed in on the amount of years that could be imposed on the FTX founder. Cooper, for one, doesn’t believe the government will suggest to the court that the defendant gets the statutory maximum of 110 years. 

He also alluded to the age factor as such sentencing might be unfair to someone who is still in his early 30s. Another factor that he believes will weigh on the sentencing is what distinguishes this case from the Madoff case, which is that SBF didn’t misappropriate all these funds for his personal use. Cooper also agreed with Enzer that Bankman-Fried would get over 20 years in prison.

FTX Founder’s Perjury Could Also Aggravate His Sentence

Both Enzer and Cooper noted that the fact that Sam Bankman-Fried perjured himself could aggravate his sentence. The defendant was the primary witness in his case, and during his testimony, he kept denying any wrongdoing. However, following his conviction, one could insinuate that he lied under oath.

The legal experts believe that this and the fact that the FTX founder made Judge Kaplan preside over a rigorous trial, which could have been short-lived if he admitted his guilt, will also weigh on Kaplan’s mind. Meanwhile, they also highlighted the fact that the defendant’s lack of remorse could also affect his sentencing, especially if he is hell-bent on appealing the conviction. 

It remains to be seen how many years the Prosecution will ask to be handed down to the defendant. FTX’s Bankaman-Fried may also have the opportunity to give an allocution where he can ask the court for a more lenient sentence.