Fate of Sam Bankman-Fried’s Co-Defendants Uncertain: Prison Sentences Loom?
The fate of Sam Bankman-Fried’s co-defendants is still uncertain as of the time of writing. Bankman-Fried, the founder of crypto-exchange FTX, pled guilty to charges of unregistered money transmitting in May 2021.
The co-defendants, two other investors in the company, have not yet gone to trial. It is unclear whether they will be charged, let go, or receive a prison sentence depending on how the proceedings unfold.
If the co-defendants are charged, however, it is likely they will be subject to the same penalties applicable to Bankman-Fried. Bankman-Fried faces up to five years of prison time, a $250,000 fine, and a forfeiture of profits.
As this case is still evolving, the fate of the co-defendants will remain uncertain until the proceedings come to a close.