Sam Bankman-Fried, FTX founder, sentenced to 25 years in prison in crypto fraud case

News Snapshot:

Former crypto mogul Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in the 2022 collapse of FTX, which once was one of the world's most popular platforms for trading digital currency. Bankman-Fried, 32, was convicted on seven charges in November related to fraud and conspiracy. A jury found that Bankman-Fried illegally used money from FTX depositors to cover his expenses, which included purchasing luxury properties in the Caribbean, private planes, significant U.S. political campaign contributions and alleged bribes to Chinese officials. U.S. District Judge Lewis A. Kaplan said the sentence reflected "that there is a...