Sam Bankman-Fried was sentenced to 25 years in prison.

Sam Bankman-Fried was sentenced to 25 years in prison in a statement released by Damien Williams, U.S. Attorney for the Southern District of New York, on the social media platform X (formerly Twitter). Sam Bankman Fried orchestrated one of the largest financial frauds of all time, stealing over $8 billion in customer funds. His cognizant and persistent lies demonstrated contempt for customer expectations and disrespect for the underlying clientele, with the goal of expanding his own power and influence with the funds he secretly utilized. The scale of his crimes went beyond the amount of money stolen to include the enormous damage inflicted on his victims, some of whose life savings were wiped out overnight. For this bottom-line deception, Bankman-Fried faced 25 years in prison, failed to collect more than a billion dollars over a decade and compensated his victims. Today's victory will deter the defendant from committing fraud again, thereby sending an important message to others who may attempt to commit financial crimes that justice will come swiftly and the consequences will be severe.