Samuel Bankman-Fried, formerly CEO of FTX, has been sentenced to a 24-year prison term in a medium-security facility, with a preference for one near the San Francisco Bay Area. This decision, handed down by Judge Lewis A. Kaplan on March 28, 2024, considers Bankman-Fried's public profile, past wealth, and personal circumstances, including his autism and social challenges, which could render him vulnerable in high-security prison settings.

Prior to sentencing, Bankman-Fried was held at the Metropolitan Detention Center (MDC) in Brooklyn, New York, known for its stringent security measures and criticized conditions.

The sentencing details, as documented in the court proceedings, reveal a complex structure, with Bankman-Fried receiving a total of 291 months (approximately 24 years and three months) in prison across multiple counts, to be served concurrently and consecutively, indicating the severity of the charges against him.

In addition to the lengthy prison term, Bankman-Fried has been ordered to forfeit a substantial sum of $11.02 billion as part of addressing the financial impact of the case on FTX investors and customers. Due to the case's complexity and the multitude of victims involved, direct restitution was not ordered. Instead, the court authorized the government to compensate victims through a remission process using the forfeited assets.

Upon release, Bankman-Fried will be subject to three years of supervised release, during which he must undergo outpatient mental health treatment and adhere to strict financial oversight.

Bankman-Fried will be approximately 57 years old upon release, and after his supervisory period, there is a possibility he may re-enter the financial sector in some capacity by his 60th birthday.