Bankman-Fried Gets 25 Years For 'Very Bad Bet' Of FTX Fraud

By Rachel Scharf and Pete Brush · March 28, 2024, 11:47 AM EDT

FTX founder Sam Bankman-Fried was sentenced Thursday to 25 years in prison for stealing more than $11 billion from customers, investors and lenders of his now-collapsed cryptocurrency empire, with a Manhattan...

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Bankruptcy Scorecard

Summary

Cryptocurrency exchange FTX filed for Chapter 11 on Nov. 11, 2022, after a rapid collapse in value.

Case Number

1:22-bk-11068

Judge

John Dorsey

Venue

U.S. Bankruptcy Court for the District of Delaware

Capital Structure

Total Liabilities:

Total liabilities are still to be determined, as a full plan has yet to be filed and FTX's tax liability is still being resolved. The IRS has filed a claim for $8 billion.

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Related Sections

Case Information

Case Title

USA v. BANKMAN-FRIED

Case Number

1:22-cr-00673

Court

New York Southern

Nature of Suit

Date Filed

December 09, 2022

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