Sam Bankman-Fried Requests Supreme Court Review of Fraud Conviction and $11 Billion Forfeiture
Sam Bankman-Fried has formally requested that the Supreme Court review his fraud conviction and vacate a court order requiring him to forfeit $11 billion. The former crypto executive, who was sentenced to 25 years in prison in 2024, argues that the lower courts allowed evidence that FTX customers lost money while preventing him from demonstrating that his investments were ultimately sound and sufficient to repay those customers. His legal team contends that the $11 billion forfeiture violates the 8th Amendment’s prohibition on excessive fines, arguing that such a fine should not deprive a wrongdoer of his livelihood. The 2nd US Circuit Court of Appeals previously rejected these arguments, ruling that the fact that some customers opted into margin trading was irrelevant to the fraud charges. While Bankman-Fried has publicly supported the economic and military moves of President Trump, the president has openly rejected the possibility of providing a pardon for the former crypto mogul.
Sources
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Former crypto billionaire Sam Bankman-Fried appeals conviction to Supreme Court
CNN
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Sam Bankman-Fried took his FTX fraud conviction to the Supreme Court
qz.com
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The legal drama of imprisoned Sam Bankman-Fried is waiting on its last act
CoinDesk