A three-judge panel of the U.S. Court of Appeals for the Second Circuit has unanimously upheld Sam Bankman-Fried’s fraud conviction and 25-year prison sentence.
The court rejected arguments that his trial was unfair, describing the government's evidence as robust. The 42-page opinion stated Bankman-Fried was the primary driver of one of the largest financial frauds on record, linked to the collapse of the crypto exchange FTX.
Bankman-Fried was convicted in 2023 on charges of misusing customer funds. The appeals decision leaves both the prison term and an $11 billion forfeiture order fully intact.