Crypto lawyer: Sam Bankman-Fried to serve 20-year prison sentence without parole

As a seasoned crypto investor who has closely followed the developments of Sam Bankman-Fried’s case, I find Carlo D’Angelo’s analysis both insightful and concerning. The prospect of Bankman-Fried spending his full sentence in prison is a stark reminder of the severity of his actions, which allegedly involved multibillion-dollar fraud.

According to a crypto lawyer, FTX founder Sam Bankman-Fried will spend his full sentence in prison.

As a crypto investor, I’d rephrase it like this: According to an interview with journalist Tiffany Fong, attorney Carlo D’Angelo expressed his viewpoint that Sam Bankman-Fried doesn’t meet the criteria for parole.

Engaging in conversation with criminal defense attorney @DeFiDefenseLaw regarding the potential outcomes for Caroline Ellison, Gary Wang, Nishad Singh, and SBF’s parents in relation to ongoing legal matters. Additionally discussing the possibility of a pardon for SBF from President Joe Biden.

— Tiffany Fong (@TiffanyFong_) May 3, 2024

The expert shares that the convicted entrepreneur will not be granted parole whatsoever. However, there’s a possibility that Bankman-Fried could serve less time in prison. The U.S. Federal Bureau of Prisons holds the authority to bestow good behavior credits on him, resulting in an earlier release than his originally sentenced date. To earn these credits, he must steer clear of disciplinary actions and consistently exhibit positive behavior.

Although the reward may not substantially reduce Sam Bankman-Fried’s prison term, as D’Angelo pointed out, most inmates serve approximately 85% of their sentences. Consequently, it is expected that Bankman-Fried will serve a minimum of 21 years behind bars.

Furthermore, the crypto legal expert dismissed the notion that Bankman-Fried could receive a pardon from President Joe Biden.

In light of the given statement, the entrepreneur standing trial for alleged multibillion-dollar fraud may have the period he spends in detention prior to sentencing credited towards his eventual prison term.

As an analyst, I would assess that Bankman-Fried’s destination among potential penal institutions hinges on several determinants. These include the unique aspects of his case, his psychological condition, and various other relevant factors. Ultimately, the authorities will make the decision based on this holistic evaluation.

In the latter part of March, Sam Bankman-Fried was sentenced to a quarter century in prison for his involvement in seven offenses, including fraud, financial deceit, embezzlement, collusion, and money laundering.

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2024-05-03 18:30