How Many Years Will SBF
Spend In Jail?December 14, 2022 Story: Divya Sinha
On Tuesday, the US government charged SBF, former CEO of FTX, for a series of
financial crimesthrough the multi-billion-dollar collapse.
The 13-page indictment alleges that since 2019, SBF
devised schemesand tactics to defraud FTX customers and investors.
On Monday, Former FTX CEO Sam Bankman-Fried got arrested in the
Bahamasat the behest of US prosecutors.
The US government has charged him with
eight criminalviolations from wire fraud to money laundering to conspiracy to commit fraud.
According to Nicholas Biase, a spokesperson for US prosecutors said that the charges could land SBF in jail for decades, carrying maximum penalties of
115 yearsThe SEC alleges that SBF deceived investors and illegally used the money to
purchase real estatefor himself and his family.
On November 11, FTX and its affiliates filed for
bankruptcyafter SBF resigned from his CEO position.