https://robbjoseph.micro.blog/categories/fraud/ en Thu, 28 Mar 2024 15:19:36 -0400 https://robbjoseph.micro.blog/2024/03/28/ftx-founder-sentenced.html Thu, 28 Mar 2024 15:19:36 -0400 http://robbjoseph.micro.blog/2024/03/28/ftx-founder-sentenced.html <p>FTX founder Sam Bankman-Fried was sentenced Thursday to 25 years in prison for fraud tied to the collapse of his digital exchange, capping the onetime crypto king’s meteoric rise and fall.</p> <p>Less than two years ago, the moptop millennial hobnobbed with heads of state, soaked up Caribbean views from his $30 million penthouse and vowed to use his wealth to better humanity. A jury last year found the 32-year-old guilty of stealing billions of dollars from FTX customers and defrauding investors and lenders to his crypto investment firm Alameda Research.</p> <p>Federal prosecutors said Bankman-Fried committed one of the greatest financial frauds in U.S. history. Fueled by greed and hubris, he used other people’s money to fund his lavish lifestyle, make risky investments and pursue his political agenda, according to prosecutors.</p> <p>🔐</p>