Sam Bankman‑Fried asks U.S. Supreme Court to review fraud conviction and $11 billion forfeiture
Supreme Court petition filed
Sam Bankman‑Fried, the former founder and CEO of the cryptocurrency exchange FTX, has filed a petition asking the U.S. Supreme Court to review his fraud conviction and the $11 billion forfeiture ordered by a lower court.
His lawyers argue that the trial court should not have been allowed to present evidence showing that FTX customers lost money when their funds were moved to Bankman‑Fried’s trading firm, Alameda Research. They also claim the forfeiture is excessively large.
Key points
- Petition targets the Supreme Court after earlier appeals were rejected.
- Second Circuit Court of Appeals upheld the trial judge’s evidence rulings and the $11 billion fine.
- The legal team cites the Constitution’s protection against excessive fines, referencing historic rights dating back to the Magna Carta.
- President Donald Trump has publicly declined to grant a pardon.
- The Supreme Court rarely takes such cases, so the request may be the final legal avenue for Bankman‑Fried.
Confirmed details
The petition was filed on the basis that the trial court improperly admitted evidence of customer losses and that the forfeiture amount violates constitutional limits on excessive fines. The Second Circuit’s June decision affirmed the lower court’s handling of evidence and the fine.
Remaining uncertainties
It is not known whether the Supreme Court will agree to hear the case. No timeline has been provided for a decision.
Why it matters
If the Supreme Court takes the case, it could alter the legal outcome for Bankman‑Fried and set a precedent for how evidence and fines are treated in large crypto‑fraud prosecutions.
Next steps
The petition will await a response from the Supreme Court. If the Court declines, the current conviction and forfeiture will remain in place.
