Relatives of the ex-owner of the bankrupt FTX crypto exchange begged the judge to reduce the sentence, arguing that his naivety could put him in «extreme danger» behind bars, reports Business Insider.
«I sincerely fear for Sam’s life in a typical prison environment», — his mother Barbara Fried wrote in a letter to the judge. «His appearance, inability to read and respond to certain social cues, and touching but naive belief in the power of facts and reason in resolving disputes will put him in extreme danger».
Letters from his parents and brother, as well as about 20 supporters, were added to the package of documents that his lawyers submitted to the court on Tuesday. They demand that his sentence be reduced to 78 months — or 6.5 years.
«In this environment, Sam’s reactions will sometimes be perceived as strange, inappropriate, and disrespectful; when this happens, he will be in physical danger», — wrote Sam’s father Joseph Bankman. «Nothing can justify such a risk».
In November, a jury trial found Sam Bankman-Fried guilty of seven charges of fraud and conspiracy in a criminal trial in Manhattan overseen by U.S. District Judge Lewis Kaplan.
First photo of Sam Bankman-Fried in jail#SamBankman pic.twitter.com/ZJHIgjGHRX
— FundedDesk (@FundedDesk) February 21, 2024
Prosecutors found that he «mixed» FTX client money with his other company, Alameda Research, and embezzled it. It was also reported that «naive» Bankman-Fried used billions of client dollars to buy luxury goods or real estate, and considered acquisition of the island country of Nauru to build a bunker there. The verdict provides for a maximum sentence of 110 years in prison.
«Sam is only 32 years old and faces the prospect of spending most of his life in prison», — writes Barbara Fried. «There are no words to express how we feel».
Meanwhile, defense attorneys said that a much lower sentence would have been justified, as FTX’s clients would likely have recovered a significant portion of their funds in the company’s bankruptcy proceedings.
Prosecutors will also be able to submit their own recommendations by March 15 before the sentencing hearing on March 28.
In her emotional letter, Barbara Fried says that her son was falsely dubbed a «caricatured greed-driven villain» who committed the «fraud of the century». In fact, he was allegedly an altruistic man who helped friends who had experienced family tragedies, although he had struggled with depression all his life.
«I don’t feel satisfaction. I don’t feel happy. For some reason, my reward system has never worked», — Bankman-Fried said in 2016 notes, also attached to the submission.
«I hate the pain I’ve caused you. And I hate myself for causing it. I really wish I knew how to love you better. I’m sorry», — reads another letter from Sam, probably sent to a loved one.