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Former crypto billionaire Sam Bankman-Fried appeals conviction to Supreme Court
His lawyers say the trial court wrongly limited repayment evidence while allowing loss evidence, and they challenge the $11.02 billion forfeiture as excessive.
- On Thursday, Sam Bankman-Fried asked the Supreme Court for a new trial, challenging his conviction for defrauding investors and seeking to vacate an $11 billion forfeiture order.
- Following a 2024 conviction, Bankman-Fried began serving a 25-year prison sentence for directing billions from FTX to his hedge fund, Alameda Research, for personal benefit.
- Arguments regarding the court-ordered forfeiture violate the Eighth Amendment, a legal claim that the Second Circuit rejected earlier this year.
- Supreme Court attorney Jeffrey Fisher told CNN that evidence suggesting customer losses was "distracting and prejudicial" under a fraud theory not requiring proof of actual loss.
- Later this year, the Supreme Court will review the appeal, potentially considering precedents concerning government contractors and wire fraud intent.
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BITRSSFTX Founder Sam Bankman-Fried Takes Fraud Conviction, $11 Billion Forfeiture to Supreme Court
Sam Bankman-Fried is seeking relief from the U.S. Supreme Court, asking it to reverse a fraud conviction and eliminate an $11 billion forfeiture, arguing jurors received an incomplete picture of whether FTX customers ultimately lost money.Visit Website
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Total News Sources38
Leaning Left2Leaning Right0Center13Last UpdatedBias Distribution87% Center
Bias Distribution
- 87% of the sources are Center
87% Center
13%
C 87%
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