Guilty: Sam Bankman-Fried (pictured) will be sentenced next week
Disgraced Sam Bankman-Fried is living a ‘life of delusion’ said the caretaker of the fraudster’s now-bankrupt crypto-trading platform
John Ray, who has been tasked with managing FTX, slammed his predecessor’s ‘hubris’ and ‘arrogance’ this week.
He attacked Bankman-Fried for claiming FTX’s customers suffered ‘zero’ harm and that no money was lost when it collapsed in November 2022.
In a fiery letter to the US district judge Lewis Kaplan, who will sentence Bankman-Fried, 32, next week, Ray said ‘Bankman-Fried continues to live a life of delusion,’ and branded his comments ‘callously and demonstrably false’.
Bankman-Fried – found guilty in November after the collapse of his exchange – argued on Tuesday that plans to put him behind bars for half a century amounted to a ‘death-in-prison sentence’ and painted him as a ‘depraved super-villain’.
But Ray, an attorney, said the ex-crypto mogul had committed ‘colossal fraud’ and ran FTX ‘with hubris, arrogance, and a complete lack of respect for the basic norms of the law’.
US prosecutors have called for a sentence of between 40 and 50 years for what has been described as ‘one of the biggest financial frauds in American history’.
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