Mitigation factors may lower the former CEO's sentence, such as waiving extradition, cooperating with the investigation, and assisting in locating victim funds.
Sam Bankman-Fried, former FTX CEO, faces eight accusations and could get 115 years in jail, but there is a"lot to play out" until he gets a final sentence over the coming months or even years, legal commentators told Cointelegraph.
As Bernie Madoff, an American financier who defrauded thousands of investors of tens of billions of dollars over a period of 17 years, SBF used its credibility to cover FTX's problems and the flow of money to Alameda's Research. Madoff's scheme also collapsed in a bear market, and he was convicted and ordered to pay $170 billion to victims in 2009, however only $4 billion was paid to victims 13 years later, according to the Madoff Victims Fund.
"Given the unprecedented amount of money at issue here SBF will be looking at a high guideline range [for a sentence]. However, there are mitigating factors - does he waive extradition, does he cooperate, does he help locate victim funds. There is a still a lot to play out here over the coming months and even years," noted Ari Redbord, the head of Legal and Government Affairs at TRM Labs, a blockchain intelligence company.
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