Sam Bankman-Fried is no "super-villain" and should not spend a "medieval" 40 to 50 years in prison as prosecutors propose, lawyers for the founder of bankrupt cryptocurrency exchange FTX said in advance of his sentencing next week. In a court filing late on Tuesday, the 32-year-old former billionaire's lawyers said a sentence significantly lower than the 5-1/4 to 6-1/2 year guideline range they had previously proposed would be appropriate punishment for his November conviction on charges of stealing $8 billion from FTX customers. "The memorandum distorts reality to support its precious 'loss' narrative and casts Sam as a depraved super-villain," defense lawyer Mark Mukasey wrote.
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