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Guilty: Sam Bankman-Fried (pictured) will be sentenced next week
Disgraced Sam Bankman-Fried is living a “life of illusion”, the custodian of the now-bankrupt fraudster’s crypto trading platform has said.
John Ray, who was tasked with running FTX, this week criticized his predecessor’s “hubris” and “arrogance.”
He attacked Bankman-Fried for claiming that FTX customers suffered no harm and no money was lost when it collapsed in November 2022.
In a fiery letter to U.S. District Judge Lewis Kaplan, who will sentence Bankman-Fried, 32, next week, Ray said “Bankman-Fried continues to live a life of delusion” and called his comments ” cruelly and blatantly false.”
Bankman-Fried – convicted in November after his stock market crash – claimed Tuesday that his plan to put him behind bars for half a century amounted to a “death sentence in prison” and portrayed him as a “depraved super-villain”. ‘.
But Ray, a lawyer, said the former crypto mogul committed a “colossal fraud” and ran FTX “with hubris, arrogance and a complete lack of respect for the basic standards of the law.”
US prosecutors have sought a sentence of 40 to 50 years in prison for what has been described as “one of the largest financial frauds in American history”.