Jailed crypto manager speaks from jail for the very first time|World News

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    Bankman-Fried is serving a 25 year sentence for his crimes

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    Bankman-Fried is serving a 25 year sentence for his criminal offenses (Picture: Getty)

    Disgraced crypto king Sam Bankman-Fried has actually spoken up for the very first time considering that being imprisoned for 25 years for scams and cash laundering.

    Claiming he never ever believed what he was doing was ‘illegal’, Bankman-Fried, 32, talked to regional news from his prison cell.

    He informed ABC News: ‘I never thought that what I was doing was illegal. But I tried to hold myself to a high standard, and I certainly didn’ t satisfy that requirement.

    ‘I’ m haunted, every day, by what was lost. I never ever planned to injure anybody or take anybody’s cash. But I was the CEO of FTX, I was accountable for what occurred to the business, and when you’re accountable it does not matter why it spoils.

    ‘I’ d provide anything to be able to assist fix even part of the damage. I’m doing what I can from jail, however it’s deeply discouraging not to be able to do more.’

    The previous billionaire’s cryptocurrency exchange business, FTX, failed in 2022 with $8billion (₤ 6.3 billion) of consumer funds missing out on.

    Bankman-Fried's company was worth £26 billion at its peak

    Bankman-Fried’s business deserved ₤26 billion at its peak (Picture: AFP)

    His high-profile court case caught the attention of millions

    His prominent lawsuit captured the attention of millions (Picture: Getty)

    At its peak FTX was valued at $32 billion (₤26 billion), and Bankman-Fried ended up being an organization star, promoting the company and attracting countless consumers to invest.

    Last November, a jury discovered Bankman-Fried had actually taken billions of consumer cash ahead of FTX’s collapse in order to purchase residential or commercial property, and make political contributions and other financial investments.

    Bankman-Fried’s very first trial ended on November 2 of in 2015, when a jury discovered him guilty of all 7 charges of wire scams, securities scams and cash laundering.



    Inside the jail where Bankman-Fried will invest 25 years

    Bankman-Fried is imprisoned in Brooklyn’s Metropolitan Detention Center– a far cry from his previous extravagant life and $35 million Bahamian estate.

    He shared the remarkable 11,500- square foot residential or commercial property with 9 individuals– the spectacular estate ignored a marina and the Atlantic Ocean.

    But his brand-new digs are shown 1,000 other detainees– previous detainees at the Metropolitan Detention Center consist of R. Kelly, Ghislaine Maxwell and Martin Shkreli.

    The MDC is well-known for its bad conditions.

    In 2019, New York City public protectors submitted a suit versus the Bureau of Prisons, calling the conditions ‘inhumane’ after detainees went without heat for days in the dead of winter season.

    Last month, he was sentenced to 25 years in jail– much shorter than the possible optimum 110- year sentence he might have gotten.

    During sentencing, Judge Lewis Kaplan stated there was a threat ‘that this man will be in a position to do something very bad in the future, and it’ s not an unimportant danger’.

    He stated Bankman-Fried had actually acknowledged his errors and stated he was sorry, however ‘never a word of remorse for the commission of terrible crimes’.

    Get in touch with our news group by emailing us at webnews@metro.co.uk.

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