Sam Bankman-Fried was sentenced Thursday to 25 years in jail for his position in defrauding customers of the collapsed cryptocurrency change FTX.In a federal courtroom in decrease Manhattan, U.S. District Decide Lewis Kaplan known as the protection argument deceptive, logically flawed and speculative. He mentioned Bankman-Fried had obstructed justice and tampered with witnesses in mounting his protection — one thing Kaplan mentioned he weighed in his sentencing choice. Bankman-Fried, carrying a beige jailhouse jumpsuit, struck an apologetic tone, saying he had made a collection of “egocentric” choices whereas main FTX and “threw all of it away.””It haunts me every single day,” he mentioned in his assertion. Prosecutors had sought as a lot as 50 years, whereas Bankman-Fried’s authorized crew argued for not more than 6½ years. He was convicted on seven prison counts in November and had been held on the Metropolitan Detention Middle in Brooklyn since.In an announcement following Thursday’s sentencing, Damian Williams, United States Lawyer for the Southern District of New York, mentioned Bankman-Fried had orchestrated one of many largest frauds in monetary historical past.“At present’s sentence will forestall the defendant from ever once more committing fraud and is a crucial message to others who is likely to be tempted to have interaction in monetary crimes that justice will likely be swift, and the results will likely be extreme.”Bankman-Fried plans to enchantment each his conviction and sentence. A spokesperson for his dad and mom issued an announcement on their behalf: “We’re heartbroken and can proceed to battle for our son.”Bankman-Fried’s legal professionals had pleaded for leniency, citing what they described as psychological well being struggles and his purported generosity in his private life. In addition they argued that FTX customers had not in the end suffered substantial losses — one thing present FTX administrator John Ray mentioned was false in a letter to Kaplan prematurely of Thursday’s sentencing.However prosecutors argued the brazenness of the crime, the extent of the victims’ losses and damages and Bankman-Fried’s evident lack of regret meant a harsher sentence was warranted.Late Tuesday, prosecutors filed paperwork from victims testifying about how Bankman-Fried’s actions had harmed them.“My complete life has been destroyed,” wrote one, whose title was redacted, in a letter dated March 15. “I’ve 2 younger youngsters, one born proper earlier than the collapse. I nonetheless keep in mind the weeks following the place I’d stare blankly into their eyes, utterly empty inside understanding their futures have been stolen by way of no fault of our personal. I didn’t gamble on crypto. I didn’t make any crypto beneficial properties. I had my [bitcoin] which I had collected over years deposited on FTX as a custodian. I didn’t conform to the chance that SBF took with my funds.” The person added he was affected by despair and that his spouse had turn out to be suicidal.“I do know we will by no means make that type of a reimbursement ever once more,” he wrote.RecommendedAnother individual wrote about how the lack of funds had affected quite a few life plans, together with a marriage.“Every passing day is a painful reminder of the alternatives stolen from me, compounding emotions of hopelessness and despair,” the individual wrote. “The burden of monetary wreck weighs closely on my shoulders, main me to grapple with fixed ideas of suicide and considerably impairing my capability to carry out at work.”Within the latest annals of white-collar crime, Bankman-Fried’s sentence is much like what others discovered responsible have obtained. Former WorldCom CEO Bernie Ebbers obtained 25 years. Former Enron CEO Jeff Skilling obtained 24 years. Theranos founder Elizabeth Holmes obtained about 11 years. Bernie Madoff obtained 150 years and died in jail at age 82. FTX was as soon as valued at greater than $30 billion, with Bankman-Fried’s web value estimated at greater than $20 billion. FTX collapsed in November 2022 after it was revealed that it had a serious money shortfall. At his trial, prosecutors mentioned Bankman-Fried robbed FTX prospects of as a lot as $8 billion to fund an enormous array of out of doors pursuits, together with political initiatives, speculative investments and funding of FTX executives’ life. Three different FTX executives testified towards him.Bankman-Fried “didn’t cut price for his three loyal deputies taking that stand and telling you the reality: that he was the one with the plan, the motive and the greed to raid FTX buyer deposits — billions and billions of {dollars} — to present himself cash, energy, affect. He thought the foundations didn’t apply to him. He thought that he might get away with it,” Assistant U.S. Lawyer Danielle Sassoon advised the jury. Bankman-Fried’s protection argued that he was merely borrowing the funds to run his Alameda Analysis funding group, which he believed was allowed, and that he was unaware of how a lot debt he had racked up.He mentioned he “made a lot of small errors and a lot of bigger errors.” But many specialists agreed Bankman-Fried got here throughout as an unsympathetic determine. Paul Tuchmann, a former federal prosecutor who’s now a associate with Wiggin and Dana LLP, advised CNBC that Bankman-Fried’s testimony had been “unpersuasive” and famous it took the jury solely three hours to convict him on every depend. Trial lawyer James Koutoulas mentioned in an CNBC interview, “Nobody had a shred of assist for SBF, nor ought to they’ve.” The U.S. Bureau of Prisons will take into account which federal penitentiary to ship him to. Rob Wile is a breaking enterprise information reporter for NBC Information Digital.Kate Rooney, CNBC contributed.