Topline
Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX and a former billionaire, lost his appeal to overturn his conviction for fraud and 25-year sentence on Friday, as an appeals court rejected his claim the trial was unfair.
Key Facts
A three-judge panel in a Manhattan federal appeals court upheld Bankman-Fried’s conviction and sentence Friday, saying in a 42-page ruling Bankman-Fried was the “main driver of one of the largest frauds on record.”
Bankman-Fried, whose cryptocurrency exchange FTX collapsed in spectacular fashion in 2022, was sentenced to 25 years in prison in 2024 after he was found guilty on seven counts, including two counts of wire fraud, and additional counts of conspiracy to commit wire fraud, money laundering and securities fraud.
The appeals court rejected Bankman-Fried’s claim that his trial was “fundamentally unfair” and that the judge was…
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