Sam Bankman-Fried’s lawyers say proposed 50 year sentence portrays him as ‘super villain’

Sam Bankman Freed is not a “nefarious person,” his lawyers argued this week, but dismissed federal prosecutors’ request to release the crypto criminal for 40 to 50 years, citing “trajectories of hostility.” .

Lawyers for Bankman Fried, who was convicted in November of stealing $8 billion from customers of the now-defunct cryptocurrency exchange FTX, said in a federal court filing Friday: He said Bankman Freed’s clients were being unfairly portrayed as “supervillains with megalomaniac motives.” ”

Mark Mukasey, Bankman Fried’s attorney, said in a letter filed Tuesday in Manhattan federal court that prosecutors are using a “medieval approach to punishment” in seeking a sentence “equivalent to prison terms” spanning decades. He said that he had a “view of the matter”.

Bankman Freed, 32, is scheduled to be sentenced on March 28, with his defense planning to argue that his sentence should be limited to five and a half to six and a half years.

Lawyers for Sam Bankman Freed denounced the federal government’s proposal to sentence him to 40 to 50 years in prison. Getty Images

Mukasey accused federal authorities of wanting to “bankrupt” his client and said he was unaware of any other case in which a nonviolent prisoner served such a long sentence and then was released.

“Perhaps this is because a prisoner’s life expectancy decreases by two years for every year of imprisonment,” Mukasey wrote. “There’s no need to crush Sam like this.”

In November, jurors heard testimony that Bankman Freed instructed colleagues to loot FTX customer funds to cover losses at his hedge fund, Alameda Research. He was found guilty of seven counts of fraud and conspiracy.

Prosecutors argued at trial that the suspect also used the stolen funds to buy luxury real estate in the Bahamas and donate money to politicians he believed would support regulations favorable to cryptocurrencies.

According to the Fed, 251 political candidates and committees have so far returned $3.3 million in donations from FTX’s Bankman Fried and others.

Sam Bankman Fried lined up
Bankman Freed’s lawyers said their client is not the “villainous man” that prosecutors are trying to make him suffer by seeking harsh punishment. Obtained by Tiffany Fung

Prosecutors will also seek forfeiture of $11 billion from Bankman Freed as part of a sentence to repay losses to lenders and investors.

Bankman Freed said it plans to appeal the conviction and sentence.

He has been in jail since August after Judge Lewis Kaplan revoked his bail due to possible involvement in witness tampering.

A spokeswoman for the Manhattan federal prosecutor’s office declined to comment.