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Federal Appeals Court Upholds Sam Bankman-Fried's Fraud Conviction
Just the facts
A three-judge panel of the U.S. Court of Appeals for the Second Circuit in Manhattan upheld the criminal fraud and conspiracy convictions of FTX founder Sam Bankman-Fried. Bankman-Fried was convicted in November 2023 on seven federal charges arising from the collapse of the FTX cryptocurrency exchange and the misappropriation of customer funds into Alameda Research. The appellate judges rejected claims by Bankman-Fried's defense counsel that trial rulings improperly restricted evidence and cross-examinations. The decision affirms Bankman-Fried's 25-year federal prison sentence.
Why this is news
A federal appeals court in New York issued a ruling on Tuesday denying an appeal by former cryptocurrency executive Sam Bankman-Fried.
Sources
This summary is compiled strictly from the original reporting below.