Sam Bankman-Fried appeals FTX fraud conviction to Supreme Court

Sam Bankman-Fried has asked the Supreme Court to overturn his fraud conviction and $11B forfeiture, arguing the trial was unfair and the penalty excessive. The Court will decide whether to review the case.

Sam Bankman-Fried has petitioned the U.S. Supreme Court to overturn his fraud conviction and the $11 billion forfeiture order following the collapse of FTX. Convicted in 2023 on seven counts, including fraud, conspiracy, and money laundering, Bankman-Fried is currently serving a 25-year prison sentence. His legal team argues that the trial court unfairly restricted evidence that could have demonstrated FTX had sufficient assets to cover customer losses, while allowing prosecutors to present evidence of customer losses. The appeal also claims the $11 billion forfeiture violates the Eighth Amendment’s prohibition on excessive fines. The Second Circuit previously upheld his conviction and sentence. The Supreme Court must now decide whether to hear the case, which could hinge on evidentiary rulings and constitutional questions regarding financial penalties.