SBF asks Supreme Court to overturn conviction, $11B forfeiture: Report
Bankman-Fried’s lawyers challenged the exclusion of evidence about customer losses and argued that his $11 billion forfeiture was excessive.
Former FTX CEO Sam Bankman-Fried has requested the US Supreme Court to overturn his 2023 fraud conviction and overturn an $11 billion forfeiture order, according to a recent court filing. His legal team argued that the trial judge had excluded evidence suggesting the soundness of his investments, which would have compensated FTX customers for their losses.
The trio of judges from the 2nd US Circuit Court of Appeals affirmed his conviction and 25-year prison sentence on June 12. Bankman-Fried was also granted a pardon from former US President Donald Trump. The 25-year sentence came after his conviction on seven counts of fraud and conspiracy in March 2024. Prosecutors alleged that Bankman-Fried misused billions of dollars from FTX customer funds to pay off Alameda Research's debts and finance various expenses, including investments, political contributions, and personal expenditures.
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