Sam Bankman-Fried Sentenced to 25 Years for Multi-Billion Dollar FTX Fraud

Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion (roughly Rs. 66,678 crore) from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall.

US District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing after rejecting Bankman-Fried's claim that FTX customers did not actually lose money and finding that he lied during his trial testimony.