Sam Bankman-Fried Asks Supreme Court to Void 25-Year Fraud Conviction
Updated
Updated · The New York Times · Sep 10
Sam Bankman-Fried Asks Supreme Court to Void 25-Year Fraud Conviction
3 articles · Updated · The New York Times · Sep 10
Summary
Sam Bankman-Fried on Thursday asked the U.S. Supreme Court to overturn his 2023 fraud conviction, after a federal appeals panel upheld it in June.
His petition says the trial judge wrongly barred evidence that FTX customers ultimately were repaid in full with interest and that the exchange had enough assets to cover them.
Lawyers also challenged an order forcing him to forfeit about $11 billion, calling it an excessive fine barred by the Eighth Amendment.
Federal prosecutors have argued customers were defrauded when Bankman-Fried misappropriated billions of dollars, regardless of whether bankruptcy recoveries later made them whole.
The justices accept only about 60 of the thousands of review requests they receive each year, leaving the 25-year sentence likely intact unless the court takes the case.