Since his conviction for fraud, Sam Bankman-Fried has recruited a high-profile lawyer for his defence and has the support of legal academics and his parents, themselves professors at Stanford, who have contacted former FTX employees on his behalf. From his cell in Brooklyn, he is seeking a reduced sentence and is preparing his appeal, with his lawyers arguing for a sentence of five to six and a half years. Bankman-Fried expresses his regrets and focuses on reimbursing FTX customers. His family is mobilising a support network, including character letters to influence his sentence. His case will be decided on 28 March, with a potential sentence of 110 years.
In an interview, Natalie Tien, a former assistant to Mr. Bankman-Fried at FTX, said she had written a letter for the memo after exchanging emails with Mr. Bankman and Ms. Fried.
“I don’t have grudges over him, and I do feel bad for his parents,” Ms. Tien said.
A spokesperson for Mr Bankman-Fried declined to comment on the charges against him. Federal prosecutors will recommend a sentence on 15 March, although a probation officer has suggested a sentence of 100 years, deemed "barbaric" by his lawyers. Even without the maximum sentence, Bankman-Fried faces several decades in prison, with a possible 30 or 35 years mooted.
Prior to the FTX collapse, Bankman-Fried was a famous cryptocurrency billionaire. In October, he was convicted of stealing $8 billion from FTX for personal expenses and maintains his innocence, planning to appeal.
He recently switched lawyers to Mukasey, known for his strong courtroom defences, who won a reduced sentence for another notable case last year.
Alexandra Shapiro, an appeals lawyer, plans to file Bankman-Fried's appeal after his conviction. Bankman-Fried's parents solicited support to influence the sentencing process, prompting Ms Tien and others to write letters of support. These letters, quoted by lawyer Mr Mukasey, portray Bankman-Fried as altruistic and not motivated by greed, citing his 'neurodiversity' to explain some of his behaviour. Law professors have also publicly defended Bankman-Fried, arguing that he had the means to repay FTX's clients. Some have criticised the law firm overseeing FTX's bankruptcy, Sullivan & Cromwell, for cooperating with prosecutors, which they say could distort the judicial process. Despite these efforts, overturning a criminal conviction on appeal remains difficult.
Since last summer, he has been housed at the Metropolitan Detention Center in Brooklyn, "where he spends most of his time working on the case," said a person with knowledge of the case. "Sam Bankman-Fried also shared advice about the crypto-currency market with the guards," the person said, recommending investments in the Solana token.
