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Sam Bankman-Fried sentencing LIVE: Tiffany Fong among dozens who spent night in rain lining up for SBF's sentencing

6 months ago 34

By Laura Parnaby For Dailymail.Com

Published: 13:13 GMT, 28 March 2024 | Updated: 13:48 GMT, 28 March 2024

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Tiffany Fong among dozens who spent night in the rain lining up for SBF's sentencing

Crypto influencer Fong, who is one of the most high-profile victims of SBF's colossal FTX fraud, is among those who camped out on the street outside the Manhattan courthouse to secure a front-row seat in his sentencing hearing.

Fong posted a video of herself nine hours before the courthouse was set to open.

'I collected some trash from the streets and I'm going to try to make a makeshift bed out of this street trash.

'I'm going to try to take a nap outside of the courthouse, and goodnight to me.'

Her video was greeted with a 'fire' emoji from Twitter tsar Elon Musk.

Which jail could Bankman-Fried end up in?

Christopher Zoukis, an federal prisons expert, told DailyMail.com he believes Bankman-Fried will likely be sent to a West Coast jail, like FCI Herlong or Mendota.

Zoukis serves as the managing director of the Zoukis Consulting Group, a firm that, among other things, prepares soon-to-be federal inmates by educating them about life in federal prison.

The consultancy has clients in minimum security prisons, all the way up to ADX Florence in Colorado, a supermax facility housing some of the nation's most notorious criminals.

Zoukis explained that the Federal Bureau of Prisons applies a security point value to prisoners that in part determines which kind of prison they'll be housed in.

The sentence length also greatly informs where a convict will end up.

Bankman-Fried's defense filed a last-minute plea for mercy

Lawyers representing the former crypto kingpin aired letters that urged leniency, with statements from his friends telling the story of a neurodivergent, vegan man who cares for animals.

His lawyers are pushing for a six-year jail term, saying a 100-year sentence would be 'grotesque' and 'barbaric'.

Prosecutors are seeking a prison sentence of 40 to 50 years

In mid-March, federal prosecutors called for a prison sentence of several decades.

'The sheer scale of Bankman-Fried's fraud calls for severe punishment,' the attorneys wrote.

'The amount of loss - at least $10 billion - makes this one of the largest financial frauds of all time,' they added.

'His life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people's money'.

If he is given a light sentence, prosecutors said, there is a risk that he would continue to carry out fraud.

Sam Bankman-Fried is set to be sentenced in Manhattan court today, marking the finale of America's biggest fraud case

The 32-year-old could face up to 110 years behind bars under the maximum term for stealing $8 billion from customers of the now-bankrupt FTX exchange he founded.

The hearing will mark the culmination of Bankman-Fried's downfall from an ultra-wealthy cryptocurrency entrepreneur and major political donor to U.S. authorities' biggest trophy to date in a crackdown on malfeasance in digital asset markets.

His hearing is set to start at 9.30am EDT before US DIstrict Judge Lewis Kaplan in New York City.

Follow the DailyMail.com live blog for updates on the hearing as it happens.

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