Crypto NewsNews

Sam Bankman-Fried Breaks Silence Post Sentencing With Remorseful Statements


Sam Bankman-Fried, the former FTX CEO, spoke to some reporters following the court’s ruling to remand him to a federal prison for 25 years.

In a report ABC News published on April 1st, it detailed an inquiry to the Metro Detention Center of Brooklyn, NY. The returning mail carried SBF’s remorseful statement.

On March 28, Judge Lewis Kaplan the US District Court for the Southern District of New York of Judge Lewis Kaplan announced the final sentence against Bankman-Fried after his conviction on seven felony crimes counts.

Sam Bankman-Fried Remorseful Statement

Before ABC, Bankman-Fried told one of his most important lessons: “I thought always, that I was doing legal things. I am constantly haunted with nightmares, where I look for what could have been saved.

When I was about to rob a bank, I was not familiar with such a kind of evil, consequently, I swore to myself, “I never intended to hurt anyone, to take anyone’s money.”

Much of Bankman-Fried’s response in the course of his interviews appeared to be a shifting of the responsibility for the failure of the exchange in November 2022 onto the “regrettable decisions of others,” as he denied his involvement in the crash.

His statement seemed to be a reflection of his feelings, as he made a statement before he received a sentence in which he tried to explain his actions because FTX declared bankruptcy and claimed that the exchange would have survived with the clients’ repayments.

Bankman-Fried’s words to ABC probably marked one of the last remarks issued before the incarceration which the former is undergoing in a federal prison.

On the other hand, federal district Judge Kaplan endorsed that the former CEO spent the rest of his sentence at a medium or low security facility in the San Francisco Bay Area.

Legal analysts have commented that when it comes to correctional institutions in the federal prison system, Bankman-Fried is not eligible for time off his sentence. However, if he behaves appropriately behind bars, he may receive time cuts.

Bankman-Fried’s legal team announced on March 28 their intention to appeal the verdict. However, as of the time of publication, they made no formal appeal.