We quietly know the famous Crypto world star Sam BankMan Fried who got a hand of meteoric rise to his repute via the famous Super Bowl commercial and celebrity companionship from star athletes like Tom Brady, basketball star Stephen Curry, and the hilarious comedian Larry! However, Bankmam was found guilty in November of fraud and conspiracy via his dealings.
- The punishment for Bankman’s conduct was handed down by the U.S. District Judge Lewis A. Kaplan in the Manhattan courtroom where Bankman had already testified six months prior to his call.
- Bankman stated that his main aim had been to solely use his creative and charitable ideas to transform the nascent cryptocurrency market rather than to steal for his personal benefits. He claims that he has been a part of 2-3 NGOs and social circles where he promised to uplift the members.
- “There is a risk that this man will be in a position to do something very bad in the future,” feared the court judge Kaplan, claiming the fall of U.S stocks or a future market scam. “The goal is to disable him to the extent that can be done appropriately for a significant period of time,” the judge claimed as securing the financial versatility of the nation.
- Kaplan also mandated that Bankman-Fried give over more than $11 billion. Since he is not likely to pose a physical threat to other prisoners or prison staff and because of his social awkwardness and autism, he would also advise the Federal Bureau of Prisons to send him to a medium-security prison or lower near the San Francisco area.
