Sam Bankman-Fried’s defense team has issued a strong response to the Department of Justice’s recent sentencing memorandum, criticizing it as “disturbing” and portraying the FTX founder inaccurately. The defense asserts that the DOJ’s narrative distorts reality by painting Bankman-Fried as a villain with dark motives and making exaggerated claims of potential recidivism. They argue that the proposed 40 to 50-year sentence recommendation is unjust and akin to a death-in-prison penalty, emphasizing that it is disproportionately harsh.
In contrast, the defense maintains that Bankman-Fried made genuine efforts to assist in resolving FTX’s bankruptcy, despite facing obstacles from bankruptcy managers. They cite additional documents penned by Bankman-Fried, including draft public statements addressing the circumstances leading to FTX’s bankruptcy, to support their argument. Furthermore, they assert that Bankman-Fried poses no risk of repeating his offenses, emphasizing his commitment to ensuring the exchange’s financial stability and success.
The defense also challenges the government’s assertion that Bankman-Fried should be incapacitated from committing any potential future fraud, describing it as a draconian approach to deterrence. They highlight his age and personal vulnerabilities, emphasizing a need for a fair and reasonable sentencing outcome.
Overall, the defense’s filing provides a comprehensive rebuttal to the DOJ’s sentencing memorandum, emphasizing Bankman-Fried’s intentions, actions, and character in a more balanced light. The outcome of the sentencing hearing scheduled for March 28 will be eagerly anticipated within the crypto industry and community.
