Sam Bankman-Fried Loses Appeal of FTX Fraud Conviction

The former crypto billionaire, sentenced to 25 years in prison, has also submitted a request for a presidential pardon.

Indicted FTX founder Sam Bankman-Fried leaves the United States Courthouse in New York on July 26, 2023. Amr Alfiky/Reuters

A federal appeals court has upheld the fraud conviction of Sam Bankman-Fried, founder of the now-defunct FTX cryptocurrency exchange.

In an opinion issued Friday, a three-judge panel of the Manhattan-based U.S. Court of Appeals for the Second Circuit rejected arguments from Bankman-Fried’s attorneys that his 2023 trial was unfair and that the presiding judge was biased against him, among other claims.