FTX founder Sam Bankman-Fried's lawyer on Tuesday requested that a judge give a lenient sentence following his client's conviction for stealing $8 billion from customers of the now-bankrupt cryptocurrency exchange, claiming that FTX's clients would have most of their funds returned. Lawyer Marc Mukasey told U.S. District Judge Lewis Kaplan in a sentencing submission that a guidelines range of five and a quarter to six and a half years would be an appropriate prison term.
The former billionaire's parents, Stanford law professors Joseph Bankman and Barbara Fried, said their son was not interested in material wealth and worked hard to return money to customers in the time between FTX's collapse in November 2022 and his arrest on fraud charges a month later. "Barbara and I ...