Sam Bankman-Fried Appeals to US Supreme Court to Challenge Fraud Conviction
Bankman-Fried Petitions Highest Court to Overturn Conviction
Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, has asked the US Supreme Court to overturn his 2023 fraud conviction. He is also seeking the reversal of an $11 billion forfeiture order, according to a court filing.
Core Arguments Presented in Appeal
- Lawyers for Bankman-Fried argue that the trial judge excluded evidence showing his investments were sound and could have covered FTX customers' losses.
- They claim the $11 billion forfeiture violates the Eighth Amendment's ban on excessive fines.
- A three-judge panel of the 2nd US Circuit Court of Appeals had previously upheld the conviction and 25-year prison sentence in June 2026.
- Bankman-Fried has also applied for a pardon from US President Donald Trump.
Details from the Court Filing
The appeal, filed in September 2026, challenges the exclusion of specific evidence and the proportionality of the financial penalty. Prosecutors originally stated that Bankman-Fried used billions in FTX customer funds to repay debts and finance investments, political donations, and personal spending.
Background on the Fraud Case
Bankman-Fried was convicted on seven counts of fraud and conspiracy in 2023. He was sentenced to 25 years in prison in March 2024. His companies, FTX and Alameda Research, collapsed in 2022.
Why This Appeal Matters
The appeal brings new legal challenges to the handling of evidence and financial penalties in a high-profile crypto fraud case. It raises questions about the scope of forfeiture orders and the admissibility of investment evidence in fraud trials.
