Sam Bankman-Fried imprisoned for 25 years and ordered to pay $11.2bn

Sam Bankman-Fried, briefly a billionaire when he operated his cryptocurrency exchange FTX, was today sentenced to 25 years imprisonment for defrauding his investors. He must also pay up $11.2bn, not that it exists.

Judge Lewis Kaplan, just before announcing Bankman-Fried's 25-year sentence, said there was a risk "that this man will be in a position to do something very bad in the future, and it's not a trivial risk."

Bankman-Fried acknowledged his mistakes and said he was sorry for what happened to customers but "never a word of remorse for the commission of terrible crimes," Judge Kaplan said.

"He knew it was wrong," he added.

To summarize the judge: Exceptionally privileged, extremely smart, remorselessly amoral, doomed to this outcome because he's a lying know-it-all. Kaplan also found, in passing, that Bankman-Fried perjured himself and intimidated witnesses.

Don't forget the media pundits who rode SBF and his whole "effective altruist" gimmick for as long as it lasted.

Previously: Lawsuit: Sam Bankman-Fried gave $16.4m house to his parents, paid for with fraudulently-obtained money