(28 Mar 2024)
RESTRICTION SUMMARY: PART MUST CREDIT ELIZABETH WILLIAMS
ASSOCIATED PRESS – MUST CREDIT ELIZABETH WILLIAMS
New York — 28 March 2024
1. Sketch of FTX founder Sam Bankman-Fried in courtroom
ASSOCIATED PRESS
New York — 28 March 2024
2. SOUNDBITE (English) Ken Sweet, Associated Press:
"Sam Bankman-Fried was sentenced to 25 years in prison today. Judge Kaplan found that while Sam did express some remorse for what happened, he believed that Sam would be most likely to commit crimes again and that the multibillion dollar fraud that he caused, that he had over at FTX is something that could potentially happen in the future. So he has been sentenced for 25 years in prison."
ASSOCIATED PRESS – MUST CREDIT ELIZABETH WILLIAMS
New York — 28 March 2024
3. Sketch of FTX founder Sam Bankman-Fried in courtroom
ASSOCIATED PRESS
New York — 28 March 2024
4. SOUNDBITE (English) Ken Sweet, Associated Press:
"Sam appeared somewhat robotic or unemotional when he addressed the court ahead of sentencing. He did express some remorse about what happened. He continues to share that he believes that customers at FTX will eventually have their funds returned to them in the bankruptcy process but he didn’t really feel like he was apologetic or deeply remorseful for what he did. Sam, who was wearing a beige prisoner garb, after he was walked out of sentencing, did not look back at the audience and kept his hands behind his back as he was taken away"
5. Barbara Fried and Joseph Bankman, parents of FTX founder Sam Bankman-Fried walk out after sentencing
6. SOUNDBITE (English) Ken Sweet, Associated Press:
"Prosecutors had been looking for 40 to 50 years for Sam Bankman-Fried for his crimes. Judge Kaplan, as he imposed the sentence on Sam, said that he felt like the prosecutor’s recommendations was overly harsh. However, he felt that the the the size of the crime and the number of victims, justified a significant sentence against Sam Bankman-Fried."
++BLACK FRAMES
7. SOUNDBITE (English) Ken Sweet, Associated Press:
"The federal sentencing guidelines require that he’s he serve at least 80% of his term. So that would be 20 years, which would make Sam about 52 by the time he leaves prison."
++BLACK FRAMES
8. SOUNDBITE (English) Ken Sweet, Associated Press:
"During the trial, prosecutors repeatedly referenced Bernie Madoff, the former Ponzi scheme fraudster from 15 years ago, as a comparison to Sam Bankman-Fried. While his attorneys tried to portray him as an innocent executive where things went wrong, that story was not bought by the judge. The judge did buy the comparison to Bernie Madoff and other Ponzi scheme fraudsters over the years."
++ENDS ON A SOUNDBITE++
STORYLINE:
FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison for a cryptocurrency fraud that a prosecutor has described as one of the biggest financial frauds in U.S. history.
Federal Judge Lewis A. Kaplan imposed the sentence Thursday in a packed Manhattan courtroom.
The 32-year-old Bankman-Fried was convicted in November of fraud and conspiracy charges brought after his once-soaring cryptocurrency trading platform and related companies collapsed into bankruptcy.
Bankman-Fried was extradited to the U.S. in December 2022, five years after he started his businesses with plans to revolutionize the emerging cryptocurrency industry.
AP Video shot by Joseph Frederick, David R Martin
===========================================================
Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Twitter: https://twitter.com/AP_Archive
Facebook: https://www.facebook.com/APArchives
Instagram: https://www.instagram.com/APNews/
You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/9d9962f077f7485d9e127e0c476db7af
Author: AP Archive
Go to Source
News post in September 21, 2024, 3:05 pm.
Visit Our Sponsor’s:
News Post In – News
