After being convicted, Samuel Bankman-Fried, the ex-CEO of FTX, has been sentenced to spend the next 24 years in jail at a medium-security facility, preferably close to the San Francisco – Bay Area. This decision was made by Judge Lewis A. Kaplan during the sentencing on March 28, 2024, taking into consideration Bankman-Fried’s fame, past wealth, and personal challenges such as autism and social difficulties that could make him vulnerable in a high-security prison.

Prior to his trial and sentencing, Sam Bankman-Fried was held at the Metropolitan Detention Center (MDC) in Brooklyn, New York, known for its strict security measures and criticized for its living conditions for both pre-trial detainees and short sentence inmates.

The sentencing specifics show a complex arrangement, with Bankman-Fried receiving a total of 291 months (around 24 years and three months) in prison, split across various charges to be served concurrently and consecutively, emphasizing the seriousness of the accusations against him.

Apart from the prison time, Bankman-Fried has been directed to forfeit a massive sum of $11,020,000,000 to address the financial aftermath of the case, impacting numerous FTX investors and customers. Instead of direct restitution, due to the case's complexity and wide victim count, the court has permitted the government to compensate victims through a remission process using the forfeited assets, showcasing the difficulties in providing restitution in a large-scale fraud situation.

Following his release from prison, Bankman-Fried will be under supervised release for three years, needing to attend an outpatient mental health treatment program and follow stringent financial oversight rules.

Upon turning 57 after his prison term and supervision, Bankman-Fried may have the opportunity to re-enter the financial industry in some capacity by his 60th birthday.