Federal Appeals Court Upholds 25-Year Prison Sentence for FTX Founder Sam Bankman-Fried

A U.S. federal appeals court has rejected Sam Bankman-Fried's appeal, upholding his 25-year prison sentence for orchestrating one of the largest financial frauds in history through the collapsed FTX crypto exchange.

Federal Appeals Court Upholds 25-Year Prison Sentence for FTX Founder Sam Bankman-Fried

A federal appeals court in the United States has affirmed the 25-year prison term handed down to Sam Bankman-Fried, rejecting his bid to overturn the conviction. The former head of the FTX cryptocurrency exchange was found guilty in 2024 of defrauding customers of approximately 8 billion dollars in what prosecutors described as one of the biggest financial scams on record.

The appellate panel ruled that the evidence presented by prosecutors during the original trial was exceptionally strong. Bankman-Fried had faced seven separate charges, and jurors returned guilty verdicts on all counts. Legal observers noted there appears to be little disagreement among attorneys about the soundness of the ruling.

Since the sentence was imposed, the convicted entrepreneur has pursued multiple legal avenues to alter his fate. In addition to the now-rejected appeal, he filed a motion for a new trial, arguing that fresh witness testimony could shift the outcome. He also indicated a desire to represent himself if a retrial were granted. The likelihood of reopening proceedings remains slim, given the clarity of the original case.

Separately, Bankman-Fried submitted a petition for presidential clemency months ago. The request is reportedly still pending review. In a New York Times interview, Donald Trump stated he would not grant a pardon, though he admitted he was not familiar with the details of the matter at the time of the question.

Bankman-Fried is currently serving his sentence in federal custody.

Source: Esport1

Source: Google News HU — Crime (hu)