Sam Bankman-Fried Asks Court to Cut Prison Time to 63-78 Months

Former FTX boss Sam Bankman-Fried (SBF), found guilty of fraud last year and due to be sentenced next month, has asked the court for a ‘just’ sentence of 63 to 78 months, according to a court filing submitted Tuesday.

Bankman-Fried’s lawyers objected to the Presentence Investigation Report (PSR), which recommends a sentence of 100 years in prison, calling it “grotesque.”

“Sam is a 31-year-old, first-time, non-violent offender, who was joined in the conduct at issue by at least four other culpable individuals, in a matter where victims are poised to recover—were always poised to recover—a hundred cents on the dollar,” the filing said.

The lawyers argue that “an appropriate method of arriving at a just sentence” would be to consider an adjusted offense level based on “zero loss,” which would lead to “an advisory Guidelines range of 63-78 months.”

The filing heavily draws on how “the harm to customers, lenders, and investors is zero,” since the FTX bankruptcy estate has stated it expects to fully repay its customers. In some cases, restitution paid to victims can be considered when sentencing, resulting in shorter terms than guidelines suggest for white-collar cases, CoinDesk has previously reported.

Read all of CoinDesk’s coverage on Sam Bankman-Fried’s trial here.

When all factors are considered, the lawyers said, “Including Sam’s charitable works and demonstrated commitment to others, a sentence that returns Sam promptly to a productive role in society would be sufficient, but not greater than necessary, to comply with the purposes of sentencing.”

Bankman-Fried’s lawyers argue that while he has been described as a “sociopath,” “an ice-cold manipulator, bully and shameless liar,” and “one of history’s most notorious fraudsters, those people “don’t know the true Sam Bankman-Fried.”

“Those who know Sam see someone who ‘cares deeply about other people.’ Who exhibits ‘kindness and loyalty.’ Whose ‘heart [is] in the right place.’ Someone who ‘has always been dedicated to doing good in the world.’”

The lawyers cite several letters submitted by friends and family of Bankman-Fried strongly supporting a lenient sentence.

Notably, Bankman-Fried’s fellow inmate, Carmine Simpson, wrote a letter that brought attention to extortion attempts.

“Sam being the ‘least physically intimidating person … has and will lead to him being frequently targeted for hazing, harassment, and assault more so than the average inmate.’ In addition, Mr. Simpson explains that the extensive media coverage of Sam’s case and his erstwhile net worth has “[led] to multiple extortion attempts.”

Another letter was submitted by “Jamie Forrest, PhD, the Executive Advisor to Purpose Africa, a project of Purpose Life Sciences that seeks to strengthen African health systems through public health and clinical research.”

Dr. Forrest, part of the group of researchers Bankman-Fried invited to The Bahamas in early 2022, wrote that Bankman-Fried’s vision reflected a “man whose values were deeply rooted in global justice, fairness, and human dignity.”

“The letters of support confirm that the public needs no protection from Sam,” the lawyers argue. “Sam, in short, presents the very opposite of the potential recidivist for whom prison is necessary.”

Read More: Sam Bankman-Fried’s Sentence Might Be Lighter Than You’d Expect

UPDATE (Feb. 28, 2024, 06:55 UTC): Adds additional detail.