Former FTX CEO Sam Bankman-Fried (SBF) has recently responded to enquiries from news outlets following his sentencing to 25 years in federal prison.

According to a 1 April report from ABC News, SBF replied via email to questions from the Metropolitan Detention Center in Brooklyn, where he has been detained since August 2023.

On 28 March, Judge Lewis Kaplan of the United States (US) District Court for the Southern District of New York sentenced the former FTX CEO to 25 years after convicting him on seven felony counts.

SBF Remorseful But Deflects Responsibility

While acknowledging his mistakes, he contended that there was no deliberate harm or fraud intended towards FTX customers:

"I never thought that what I was doing was illegal. I'm haunted, every day, by what was lost. I never intended to hurt anyone or take anyone's money.”

SBF also empathised with his firm's former clients:

"I've heard and seen the despair, frustration, and sense of betrayal from thousands of customers. They deserve to be paid in full at the current price.”

However, many of his responses appeared to deflect responsibility for the collapse of the crypto exchange in November 2022, attributing it to "bad decisions" rather than selfish motives.

His statement to ABC echoed sentiments expressed prior to sentencing, emphasising that FTX could have weathered the storm and repaid customers.

This communication to ABC News may be one of SBF’s final statements before his imprisonment.

SBF's Legal Team to Appeal Verdict

Judge Lewis recommended that SBF serve the remainder of his sentence at a medium- or low-security prison in the San Francisco Bay Area.

A 28 March docket entry suggested that SBF would serve approximately 24.25 years, factoring in the time already spent behind bars.

While legal experts anticipate potential sentence reductions for good behaviour, there is no parole in the federal prison system.

SBF’s legal team announced on 28 March their intention to appeal the verdict.

During closing statements, SBF's defense attorney expressed:

"Sam is on the opposite end of the culpability scale that they talk about for fraud crimes. There was nothing predatory or rapacious or venal or mercenary or exploitative about his conduct.”

Judge Lewis expressed:

"A thief who takes his loot to Las Vegas and successfully bets the stolen money is not entitled to a discount on the sentence by using his Las Vegas winnings to pay back all or part of what he stole if and when he gets caught.”