a sentence of 40-50 years, less than half the possible maximum for his convictions. They argued that would be “commensurate with the extraordinary dimensions of his crimes” committed at his financial empire, FTX, which was the second-largest cryptocurrency exchange until CEO Bankman-Fried’s fall from grace in 2022.The 32-year-old’s lawyers asked for a 63-78 month sentence, citing his autism diagnosis and positive intentions when starting his company in 2019.
Judge Lewis Kaplan said during a nearly three-hour sentencing hearing that he weighed “the enormous harm did, the brazenness of his actions, his exceptional flexibility with the truth and his apparent lack of any real remorse,”in November of all seven charges he faced for overseeing massive wire fraud, securities fraud and money laundering at FTX, where he schemed customers and investors out of as much as $10 billion on the platform.
“Overall, it was the worst week of my life,” Ellison said of the company’s downfall in the fall of 2022. “I felt this sense of relief that I didn’t have to lie anymore, and that I could start taking responsibility, even though I felt indescribably bad.”the court last month that investments he made with stolen money have dramatically appreciated in value and they expect all of FTX’s customers and creditors will be fully repaid.