NEW YORK (AP) — Former crypto magnate Sam Bankman-Fried faces the potential of decades in prison when he is sentenced Thursday for his role in the 2022 collapse of FTX, once one of the world’s most popular platforms for trading digital currencies.

Bankman-Fried, 32, was convicted in November of fraud and conspiracy — a dramatic drop from a year earlier, when he and his companies appeared to be on a high, resulting in a Super Bowl ad and celebrities like quarterback Tom Brady and comedian Larry David.

A jury found that Bankman-Fried illegally used money from FTX depositors to cover his expenses, including the purchase of luxury properties in the Caribbean, alleged bribes to Chinese officials and private jets.

Prosecutors had asked for a prison sentence of 40 to 50 years.

“The defendant victimized tens of thousands of people and companies across several continents over a period of several years. He stole money from customers who entrusted it to him; he lied to investors; he sent fabricated documents to lenders; he pumped millions of dollars in illegal donations into our political system; and he bribed foreign officials. Each of these crimes is worthy of a lengthy sentence,” prosecutors told Judge Lewis A. Kaplan in a court filing.

Bankman-Fried’s lawyers, friends and family have urged leniency and say he is unlikely to offend again. They also say FTX’s investors have recovered most of their money — a claim disputed by bankruptcy attorneys, FTX and its creditors.

“Mr. Bankman-Fried continues to live a life of delusion,” wrote John Ray, the CEO of FTX who cleaned up the bankrupt company. “The ‘company’ he left on November 11, 2022 was neither solvent nor safe.”

Two weeks ago, Bankman-Fried’s attorney, Marc Mukasey, attacked a parole office recommendation of 100 years in prison, saying a sentence of that length would be “grotesque” and “barbaric.”

He urged the judge to sentence Bankman-Fried to a prison term of five to six-and-a-half years.

“Sam is not the ‘evil genius’ portrayed in the media, or the greedy villain depicted at trial,” Mukasey said, calling his client a “prime, non-violent perpetrator.”

Bankman-Fried was worth billions of dollars on paper as co-founder and CEO of FTX, once the world’s second-largest cryptocurrency exchange.

FTX allowed investors to purchase dozens of virtual currencies, from Bitcoin to more obscure currencies like Shiba Inu Coin. Bankman-Fried, flush with billions of dollars in investor money, placed a Super Bowl ad to promote his company and bought the naming rights to an arena in Miami.

But the collapse of cryptocurrency prices in 2022 took its toll on FTX and ultimately led to its demise. FTX’s hedge fund affiliate known as Alameda Research had purchased billions of dollars worth of various crypto investments that lost significant amounts of value in 2022. Bankman-Fried tried to plug holes in Alameda’s balance sheet with FTX customer funds.

Three other people from Bankman-Fried’s inner circle pleaded guilty to related crimes and testified at his trial.

The biggest name of the three was Caroline Ellison, once Bankman-Fried’s girlfriend. Ellison described Bankman-Fried as a calculating individual who knew he was likely committing crimes when he directed the use of client money. Two other former friends of Bankman-Fried, Gary Wang and Nishad Singh, also testified that they felt they had been directed by Bankman-Fried to commit fraud.

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