Crypto entrepreneur Sam Bankman-Fried was sentenced to 25 years in prison for his role in a $11 billion fraud scheme. The scam involved funneling customer funds to his hedge fund, Alameda Research.
Bankman-Fried’s sentence could be reduced by up to four years if he completes good conduct time and participates in prison programs. If released on December 14, 2044, he will serve less than four years early.
The sentencing comes after a jury convicted Bankman-Fried of seven counts of fraud and conspiracy related to the collapse of his cryptocurrency exchange, FTX. Prosecutors said Bankman-Fried and his inner circle siphoned customer funds for personal gain.
Bankman-Fried is currently serving his sentence at FCI-Terminal Island in California. His release date is estimated based on “good conduct time,” which allows inmates to earn credits for good behavior.
Source: https://www.businessinsider.com/sbf-years-shaved-off-his-prison-sentence-2025-5