Sam Bankman-Fried’s legal team is demanding a lighter sentence than recommended for the convicted founder of bankrupt crypto exchange platform FTX.
In a new court filing, Bankman-Fried’s lawyers say they disagree with the Presentence Investigation Report’s (PSR) recommendation that the former director be sentenced to 100 years behind bars.
The PSR – created by the U.S. Probation Office to assist courts in determining the appropriate sentence for a convicted person – encompasses an offender’s entire life background.
Bankman-Fried’s lawyers say the court should reject what they call a “grotesque” proposal.
“The PSR recommends that the Court sentence Sam to 100 years in prison.
That recommendation is grotesque. Sam is a 31-year-old, first-time non-violent offender, who was joined in the behavior in question by at least four other guilty people, in a case where victims are ready to recover – always were ready to recover – a hundred cents on the dollar.”
They say a 100-year prison sentence should be reserved for those who committed more serious crimes, such as al-Qaeda members involved in acts of terror.
Additionally, attorneys say a lighter sentence — one of up to 78 months — is more appropriate for Bankman-Fried when all factors are taken into account.
“Sam Bankman-Fried respectfully submits that, for the reasons set out above, an appropriate method of arriving at a just sentence would be to consider the adjusted offense level (subtotal) of 56, reduced by 30 levels on a zero-loss basis , resulting in an advisory guideline range of 63-78 months.
When considering the factors, including Sam’s charitable work and demonstrated dedication to others, a sentence that immediately returns Sam to a productive role in society would be sufficient, but not more severe than necessary, to meet the purposes of sentencing. ”
Bankman-Fried was convicted last year of defrauding investors and mishandling billions of dollars of customer funds in connection with the 2022 FTX collapse.
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