Sam Bankman-Fried loses bid to appeal against fraud conviction in FTX case
A U.S. appeals court has rejected Sam Bankman-Fried's attempt to overturn his fraud conviction and 25-year prison sentence related to the collapse of the FTX cryptocurrency exchange. The court upheld the original verdict, which found him guilty of stealing $8 billion from customers.
Why it matters
This decision reinforces the legal consequences for high-profile financial crimes within the cryptocurrency industry.
FTX founder Sam Bankman-Fried leaves federal court on 26 July 2023, in New York. Photograph: Mary Altaffer/AP View image in fullscreen FTX founder Sam Bankman-Fried leaves federal court on 26 July 2023, in New York. Photograph: Mary Altaffer/AP Sam Bankman-Fried Sam Bankman-Fried loses bid to appeal against fraud conviction in FTX case Decision to not overturn fallen crypto mogul’s 25-year prison sentence was handed down by three-judge panel
The article provides a factual summary of a legal proceeding and the court's decision.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in