In a landmark ruling on Thursday (March 28), a US court in Manhattan delivered a decisive blow to the infamous 'Crypto King,' Bankman Sam Freud, sentencing him to 25 years behind bars for money laundering. The verdict, reported by the British media BBC, marks a significant milestone in the legal saga surrounding Freud's illicit activities.

Despite the grim outcome, Freud's legal team is poised to mount an appeal against his conviction. As per BBC's report, a representative of the 'Crypto King' affirmed that Freud's parents were left reeling in shock by the verdict. Undeterred, they vowed to steadfastly support their son in his legal battle.

Freud's meteoric rise to prominence was marred by allegations of malfeasance, culminating in his downfall. The disgraced banker stands accused of orchestrating a massive embezzlement scheme, siphoning a staggering $8 billion from unsuspecting customers through the cryptocurrency exchange company FTX. Once hailed as the chief executive of the burgeoning FTX empire, Freud's fortunes took a precipitous turn as his company plummeted into bankruptcy within a mere three years.

The unraveling of Freud's intricate web of deception culminated in his arrest late last year on charges of fraud and money laundering. Now, with the weight of a 25-year prison sentence hanging over him, Freud's once-gilded legacy lies in tatters, serving as a cautionary tale in the world of high-stakes cryptocurrency trading.