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Notes -
This being Federal, it has to go by the sentencing guidelines. And while the indictment lacks enough specificity to really pinpoint it, based on the information that's available I would guess 15–20 years. Madoff got more because his sentences ran consecutively rather than concurrently. This is pretty rare and I don't think it would be done here. Madoff spent years running a pyramid scheme where he was depositing investor money directly into his personal account and paying it back out of the same account, all the while lying to investors about the returns they were getting. SBF got in a quandary where he misappropriated money to bail out his failing businesses. The whole thing played out over months rather than years. There's also the fact that Madoff simply plead guilty to all the charges without negotiation. Not only did he miss his chance at a deal, but he gave the Justice Department the impression that he was trying to shield his associates from prosecution by eliminating his own incentives to cooperate.
He did slightly more than that; for instance, the billion dollars in loans he took out of the business. Ray's testimony is damning; for some of those 'loans', Bankman-Fried was signing off both as issuer of the loan and recipient of the loan. Any claims he made about what he did with the money (allegedly re-invested in the business) can't be backed up.
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