Former FTX CEO Sam Bankman-Fried failed to overturn his fraud conviction and 25-year prison sentence tied to the collapse of FTX after a three-judge appeals panel rejected his bid for relief.
The unanimous ruling by the 2nd US Circuit Court of Appeals in Manhattan, New York, found that the government’s case against Bankman-Fried was, in the court’s words, “conservatively stated, robust,” according to Reuters.
The decision comes as Bankman-Fried pursues another avenue to challenge his conviction. He has formally applied for a presidential pardon from US President Donald Trump, with the request appearing on the US Department of Justice Office of the Pardon Attorney website in early June.
Bankman-Fried was sentenced to 25 years in prison in 2024 after being convicted on fraud and conspiracy charges stemming from the multibillion-dollar collapse of FTX.
Sam Bankman-Fried JUST LOST his appeal to overturn his fraud conviction and 25-year prison sentence.
The 2nd U.S. Circuit Court of Appeals upheld the verdict today for orchestrating one of the largest financial frauds in U.S. history stealing ~$8B from FTX customers to fund…
— Toby Cunningham (@sircryptotips) June 12, 2026
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment