Sam Bankman-Fried sentenced to 25 years in prison for FTX Fraud

Sam Bankman-Fried was ordered to forfeit more than $11 billion, and sentenced to 25 years in prison for defrauding customers and investors in the crypto exchange FTX. The sentencing hearing of Sam Bankman-Fried took place at the Manhattan Federal Court. Presiding over the hearing, Judge Lewis Kaplan declared that the former billionaire had committed perjury during his testimony trial.