Appeals court upholds Sam Bankman-Fried's fraud conviction and 25-year sentence in FTX collapse
By
Guardian staff reporter
Properly proved. Has structure, has flavour, has a point.
Summary
Sam Bankman-Fried, the former cryptocurrency billionaire and FTX founder, lost his appeal to overturn his fraud conviction and 25-year prison sentence. A three-judge panel of the New York-based Second US Circuit Court of Appeals upheld the 2023 jury verdict that found him guilty on seven felony charges related to the collapse of FTX in 2022.
Key quotes
· 3 pulledSam Bankman-Fried on Friday lost his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of the FTX cryptocurrency exchange he founded.
The decision was handed down by a three-judge panel of the New York-based second US circuit court of appeals.
Bankman-Fried, who had been one of the cryptocurrency sector's most influential figures and a multibillionaire before FTX's spectacular collapse in 2022, was found guilty on seven felony charges by a federal jury in Manhattan in 2023.
You might also wanna read
FTX Founder Sam Bankman-Fried Files for Presidential Pardon from Trump Amid 25-Year Fraud Sentence
FTX cofounder Sam Bankman-Fried, currently serving a 25-year prison sentence for fraud related to the collapse of his cryptocurrency exchang
forbes.com·5d ago
Former Prison Bunkmate Michael Avenatti Criticizes Sam Bankman-Fried's Pardon Bid, Says He Never Accepted Responsibility
Sam Bankman-Fried's push for a presidential pardon is facing criticism from Michael Avenatti, a former prison bunkmate who claims SBF has ne
coinpedia.org·4d ago
Cryptocurrency industry's political donations and fraud raise concerns about corruption
The article criticizes the cryptocurrency industry, focusing on its massive political donations (often exceeding those of tech, pharma, and
cryptadamus.substack.com·1d ago
Jury dismisses Elon Musk's lawsuit against Sam Altman on statute of limitations grounds
A jury in the Musk v. Altman trial reached a unanimous verdict dismissing all claims against Sam Altman. Two claims were barred by the statu
The Verge·26d ago
SEC sues Texas man for $12.3 million crypto fraud scheme involving fake AI trading bots
The SEC has sued Texas resident Nathan Fuller for allegedly raising $12.3 million from roughly 150 investors through a fraudulent crypto inv
coindesk.com·12d ago
Federal Court Dismisses Bribery Case Against Former Fox Executive Hernan Lopez
A federal court has formally dismissed the bribery indictment against Hernan Lopez, former head of Fox International Channels and founder of
Variety·14d ago