In its letter to District Decide Lewis Kaplan on Tuesday, the authorized staff behind the disgraced FTX founder Sam Bankman-Fried has contested the sentencing suggestion put forth by the Division of Justice final week.
The US prosecutors had beforehand proposed a jail time period of 40 to 50 years for the previous FTX CEO, however the legal professionals deemed the memorandum “disturbing.”
SBF Attorneys Cry ‘Not Justice’
In a letter submitted on March nineteenth, SBF’s legal professionals argued that the memorandum portrays a distorted model of actuality, unfairly portray the fallen exec as a “supervillain” determine with exaggerated and unfounded motives.
They’ve additionally criticized the memorandum for making excessive predictions about SBF’s future conduct and advocating for an excessively harsh punishment that equates to a lifetime behind bars, which they argue is unjust.
“Hellbent on portraying Sam as a monster, the federal government makes repeated references to his “unmatched greed” and his supposed ruthless need to maximise his private wealth. It is a easy, seductive narrative. It is usually a false one. The phrase “greed” was by no means uttered by any trial witness. And the federal government snubs the individuals who have identified Sam for years and tout his selflessness.”
The legal professionals additional went on to say that people like SBF, who haven’t any prior felony report, are least prone to commit additional offenses. They argue that the severity of the offense itself is just not indicative of a better probability of re-offending.
Moreover, they spotlight analysis indicating that people with greater ranges of training, equivalent to a school diploma, are much less liable to “recidivism,” implying that the background of SBF, who was convicted of fraud and different prices final 12 months, helps a decrease danger of repeating felony conduct.
Sam Bankman-Fried’s Historic Fraud Case
Bankman-Fried was convicted by a New York jury final 12 months for deceiving buyers of FTX and Alameda Analysis in November. The costs embrace two situations of wire fraud, two situations of wire fraud conspiracy, one depend of securities fraud, one depend of commodities fraud conspiracy, and one depend of cash laundering conspiracy.
The protection staff had urged a US courtroom to think about a sentence starting from 63 to 78 months, criticizing the pre-sentence report’s proposed 100-year sentence as excessive.
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