Sam Bankman Fried (SBF), the founder of the now-defunct cryptocurrency exchange FTX, was found guilty of fraud in November 2023. In a recent post about X, the journalist Tiffany Fung Shared the first photo of SBF in MDC Brooklyn jail. Fong said she obtained the photo from a prison inmate. The photo was taken on December 17, 2023, one month after SBF’s conviction.
Fong censored the faces of the other inmates except SBF and G-Roc. According to Fung, she had interviewed G-Roc in the past, which is why she left his face uncensored. Additionally, Fong states that G-Lock is a former member of the Blood Gang.
Also read: FTX plans to fully repay crypto customers
Will FTX founder receive a light sentence?
The FTX debacle is one of the biggest financial scams in recent history. Founder SBF’s sentencing will take place on March 28, 2024. District Judge Lewis A. Kaplan will lead SBF’s sentencing. However, there has been much talk about the possibility of SBF receiving a lighter sentence. According to reports, the lighter sentence may be due to FTX’s repayment plans for customers.
The crypto market has seen a significant recovery since the FTX collapse, with Bitcoin (BTC) hovering between $51,000 and $52,000, levels last seen in 2021. Additionally, market recovery will play an important role, as restitution may be taken into account in sentencing. .
Related article: Department of Justice indicts three people in $400 million SIM swap robbery against FTX
Jordan Estes said he would have been sentenced to 20 years in prison or even life in prison if the losses were large. Estes said:The amount of losses is expected to be hotly contested at sentencing.‘
Estes added:In particular, if all customers and creditors are made whole, the defense may argue that the loss could be significantly reduced or even $0.‘
