March 28 2024: Sam Bankman-Fried sentenced to 25 years in prison

Authored by cnn.com and submitted by homefree122

In this courtroom sketch, Sam Bankman-Fried, second from right, stands while making a statement during his sentencing in Manhattan federal court, Thursday, March. 28, 2024, in New York. Crypto entrepreneur Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud that unraveled with the collapse of FTX, once one of the world's most popular platforms for exchanging digital currency. Elizabeth Williams/AP

There is no possibility of parole in federal criminal cases, but Bankman-Fried can still shave time off his 25-year sentence with good behavior.

"SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.

Federal prisoners generally can earn up to 54 days of time credit a year for good behavior, which could result in an approximately 15% reduction.

Since 2018, however, nonviolent federal inmates can reduce their sentence by as much as 50% under prison reform legislation known as the First Step Act.

Epner says the First Step Act was billed as a civil rights measure, to help minority offenders who committed non-violent drug-trafficking offenses.

"It has turned out to be an enormous boon for white-collar criminal defendants, who are already given much lower sentences ... than drug-traffickers," Epner added.

There is also a provision that allows a court to reduce a person’s sentence for extraordinary and compelling reasons, which are often medical, according to Jordan Estes, a former federal prosecutor who is now a partner at Kramer Levin.

"Since the pandemic, courts have been more willing to grant early release under this provision if the defendant has served a substantial portion of his or her sentence,” Estes said.

Modz_B_Trippin on March 28th, 2024 at 16:03 UTC »

He faced over 100 years in prison under federal sentencing guidelines.

It looks like he got off light.

ExploringWidely on March 28th, 2024 at 16:01 UTC »

That's what you get when you mess with rich people's money

spmahn on March 28th, 2024 at 16:01 UTC »

That’s a long ass time in the clink, almost a third of your life, not that he doesn’t deserve it. I couldn’t imagine what goes through someones head when faced with a sentence like that, he wasn’t married or had kids, but by the time you are out, your parents will likely be dead or close to it, all your friends will likely have moved on with their lives, any hope of starting a family of your own is severely diminished. It’s not a death sentence, but psychologically it may as well be.