FTX founder Sam Bankman-Fried's orchestration of one of history's largest financial frauds in his quest to dominate the cryptocurrency world deserves a prison sentence of 40 to 50 years, federal prosecutors on Friday told a federal judge.
"Having set himself on the goal of amassing endless wealth and unlimited power -- to the point that he thought he might become President and the world's first trillionaire -- there was little Bankman-Fried did not do to achieve it," prosecutors said. In their presentence submission, prosecutors described Bankman-Fried's crimes as "one of the largest financial frauds in history, and what is likely the largest fraud in the last decade."
"Even following FTX's bankruptcy and his subsequent arrest, Bankman-Fried shirked responsibility, deflected blame to market events and other individuals, attempted to tamper with witnesses, and lied repeatedly under oath," prosecutors said, citing his trial testimony.
A Boeing 737-800 was found to have a missing panel after a United Airlines flight arrived at its destination in southern Oregon on Friday, airport officials said.Israel on Friday approved a potential assault on the Gaza city of Rafah while also keeping ceasefire hopes alive with plans to send another delegation to Qatar for talks on a possible hostage deal with Islamist militant group Hamas.
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