New York | Former crypto mogul Sam Bankman-Fried has been sentenced to 25 years in a US prison for using $US10 billion ($15.6 billion) of customers’ money without their knowledge, a massive fraud that unravelled with the collapse of his FTX cryptocurrency exchange.
Judge Lewis Kaplan told a Manhattan court on Thursday (Friday AEDT) that Bankman-Fried was “extremely smart”, and “wanted to be a hugely, hugely politically influential person in this country”. But he caused “enormous harm” by stealing billions in customer funds to make risky bets.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
