Judge Kaplan has determined that the loss amount to victims of Bankman-Fried's crimes exceeds $550 million, which is at the high end of the range provided by federal sentencing guidelines. The judge specified that there was a loss of $1.7 billion to investors, $1.3 billion to Alameda lenders, and $8 billion to FTX customers.
In response to arguments made by SBF's lawyers in pre-sentencing memos claiming that there was no loss to victims, Judge Kaplan firmly stated his rejection of this assertion, emphasizing that there was indeed an actual loss incurred.
Despite assertions that FTX customers and creditors will be fully reimbursed through the bankruptcy process, Judge Kaplan expressed skepticism, labeling such claims as misleading, logically flawed, and speculative.
However, Judge Kaplan indicated his intention to impose a prison sentence on Bankman-Fried that falls below the maximum sentencing guidelines when the final sentence is delivered.
It is important to note that judges are not bound to strictly adhere to sentencing guidelines and have the discretion to deviate from them.
Andrew Dietderich, a lawyer involved in managing the bankruptcy estate of FTX, informed a Delaware judge that he foresees customers being repaid in full. While he expressed optimism about this outcome, he also cautioned that it is not a guarantee but rather an objective.
Dietderich highlighted the ongoing work and potential risks involved in achieving this goal but conveyed confidence in the feasibility of reaching the objective, emphasizing the existence of a strategic plan to facilitate the repayment process.
