Sam Bankman-Fried will serve a 20-year prison sentence without parole

FTX founder Sam Bankman-Fried will spend his entire sentence in prison, according to a cryptocurrency lawyer.

Cryptocurrency lawyer Carlo D’Angelo said this in an interview with journalist Tiffany Fong Sam Bankman Fried does not give the right to parole.

According to the expert, the convicted entrepreneur will not be released on parole under any circumstances. Despite this, there is a possibility that Bankman-Fried will soon leave prison, since the US Federal Bureau of Prisons has the right to recognize the founder of FTX with good behavior status, and therefore to be released before the specified date in the sentence. To do this, the convicted person must avoid disciplinary sanctions and demonstrate good behavior.

However, the reward will not significantly reduce Bankman-Fried’s prison time, as D’Angelo noted that inmates like Bankman-Fried serve 85 percent of their sentences in most cases. According to this precedent, the former head of FTX he will likely spend at least 21 years in prison.

Additionally, the cryptocurrency lawyer ruled out the possibility of Bankman-Fried being pardoned by President Joe Biden.

Taking into account the sentence, the businessman accused of multi-billion-dollar fraud will have the time spent in pre-trial detention pending the sentence counted as served.

There are various options for the prison Bankman-Fried could be sent to. Authorities will determine the specific prison facility based on the characteristics of his case, his psychological state and other factors, D’Angelo concluded.

Sam Bankman Fried received 25 years in prison at the end of March on seven charges relating to fraud, financial fraud, embezzlement, criminal conspiracy and money laundering.

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