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U.S. Government's Legal Precedents Don't Support Lengthy Prison Term, Bankman-Fried's Defense Argues

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Amitoj Singh is a CoinDesk reporter.

Sam Bankman-Fried's defense team argued the U.S. Department of Justice was misapplying legal precedent in arguing for a lengthy prison term.

Bankman-Fried's legal team already responded to the Department of Justice's memo in a letter earlier this week, arguing the DOJ was trying to make the former FTX CEO out to be a"super villain." In another letter Wednesday, the defense team took aim at some of the legal arguments presented by the prosecution.

Bankman-Fried's legal team retorted by saying that"all the government cites is a single, unpublished, non-precedential summary order from the Second Circuit that quotes a decision from five years before Kisor, that did not consider this Kisor argument, and that ultimately applied actual instead of intended loss."

Victim impact statements from FTX customers argue that while they might receive their 2022 values, they will have missed the upside from crypto's price rise over the past year.

 

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