Sam Bankman-Fried’s legal team is seeking a lighter-than-recommended sentence for the convicted founder of the bankrupt crypto exchange platform FTX.
In a new court filing, Bankman-Fried’s lawyers say they disagree with the Presentence Investigation Report (PSR) recommendation that the former executive should be sentenced to 100 years behind bars.
The PSR – which is prepared by the U.S. Probation Office to help courts determine the appropriate sentence for a convicted person – includes an offender’s entire life background.
Bankman-Fried’s attorneys 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 conduct at issue by at least four other culpable individuals, in a matter where victims are poised to recover – were always poised to recover – a hundred cents on the dollar.”
They say that a 100-year sentence should be reserved for those who committed more serious offenses, such as Al-Qaeda members who were involved in terror acts.
Furthermore, the lawyers say that a lighter sentence – one with a maximum of 78 months – is more appropriate for Bankman-Fried when all factors are considered.
“Sam Bankman-Fried respectfully submits that, for the reasons set forth 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 based on zero loss, which yields an advisory guidelines range of 63-78 months.
When the factors are considered, including Sam’s charitable works and demonstrated commitment to others, a sentence that returns Sam promptly to a productive role in society would be sufficient, but not greater than necessary, to comply with the purposes of sentencing.”
Bankman-Fried was convicted of defrauding investors and mishandling billions of dollars worth of customer funds last year connected to the 2022 collapse of FTX.
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