Sam Bankman-Fried petitions Supreme Court to overturn FTX fraud conviction

Sam Bankman-Fried FTX Supreme Court fraud conviction cryptocurrency

Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX, has filed a petition with the U.S. Supreme Court seeking to overturn his criminal conviction and a 25-year prison sentence.

The appeal focuses on two primary legal arguments. First, the defense contends that the trial judge made critical procedural errors by restricting evidence that could have shown FTX possessed sufficient assets to repay customers. They argue this prevented the jury from seeing that many customers might not have suffered net losses.

Second, Bankman-Fried is challenging an $11 billion forfeiture order, claiming it constitutes an unconstitutional excessive fine under the Eighth Amendment. This follows a June 2026 decision by the Second Circuit Court of Appeals, which unanimously upheld both the conviction and the forfeiture.

Bankman-Fried was originally convicted in 2023 on seven counts, including wire fraud and money laundering, after prosecutors proved he diverted billions in customer funds to his hedge fund, Alameda Research.

Entities

Alameda Research · FTX · Sam Bankman-Fried · Second Circuit Court of Appeals · Supreme Court of the United States · U.S. Supreme Court

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] The 2nd US Circuit Court of Appeals previously rejected Bankman-Fried's arguments. keyt.com · kvia.com
[● 6 SOURCES] Bankman-Fried is challenging an $11 billion forfeiture order, arguing it violates the 8th Amendment's prohibition on excessive fines. keyt.com · kvia.com · bitcoinethereumnews.com · crypto.news · www.haberaktuel.com · +1 more
[● 5 SOURCES] Prosecutors alleged Bankman-Fried diverted billions of dollars from FTX to his hedge fund, Alameda Research. keyt.com · kvia.com · bitcoinethereumnews.com · crypto.news · www.haberaktuel.com
[● 8 SOURCES] Bankman-Fried was sentenced to 25 years in prison in 2024. keyt.com · kvia.com · bitcoinethereumnews.com · crypto.news · www.haberaktuel.com · +3 more
[● 6 SOURCES] Sam Bankman-Fried has requested a new trial from the Supreme Court. keyt.com · kvia.com · bitcoinethereumnews.com · crypto.news · www.coincu.com · +1 more
[● 6 SOURCES] The defense argues the trial court improperly restricted evidence regarding FTX's ability to repay customers. bitcoinethereumnews.com · crypto.news · www.haberaktuel.com · keyt.com · decrypt.co · +1 more
[● 6 SOURCES] The 2nd US Circuit Court of Appeals upheld the conviction and $11 billion forfeiture order in June 2026. bitcoinethereumnews.com · crypto.news · www.haberaktuel.com · keyt.com · decrypt.co · +1 more