{
  "id": 7068098,
  "title": "Sam Bankman-Fried, Former Crypto Billionaire, Appeals His Conviction To the US Supreme Court",
  "url": "https://urgent.news/2026/09/13/sam-bankman-fried-former-crypto-billionaire-appeals-his-conviction-to",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-13T05:00:00.000Z",
  "source": {
    "name": "Slashdot",
    "slug": "slashdot",
    "url": "https://yro.slashdot.org/story/26/09/12/2151206/sam-bankman-fried-former-crypto-billionaire-appeals-his-conviction-to-the-us-supreme-court"
  },
  "original_language": "en",
  "account": "The US Supreme Court on Thursday received a petition from Sam Bankman-Fried, the former crypto billionaire convicted of defrauding investors, CNN reported. Bankman-Fried is appealing the decision to allow a new trial and has requested that the court overturn an order requiring him to pay $11 billion as part of his sentence. In 2024, Bankman-Fried was sentenced to 25 years in prison after authorities alleged he directed billions from FTX, a crypto exchange, to a hedge fund he controlled, Alameda Research, for risky investments, political donations, and personal gain. The Supreme Court appeal focuses on a technical issue regarding evidence presented during the trial and whether Bankman-Fried should have been allowed to prove his investments were viable, thereby covering any losses by FTX customers. His legal team argues that the $11 billion forfeiture violates the 8th Amendment's prohibition on excessive fines. The government's stance is that it doesn't matter if any victims lost money in a fraud case; introducing evidence of actual losses can be distracting and prejudicial, according to veteran Supreme Court attorney Jeffrey Fisher. However, the 2nd US Circuit Court of Appeals dismissed Bankman-Fried's arguments earlier this year.",
  "summary": "America's highest court heard Sam Bankman-Fried's request for a new trial on Thursday, CNN reports. But they add that \"the former crypto mogul who was convicted of defrauding investors by secretly diverting billions of dollars of their money\" also asked America's high court \"to throw out a court order requiring him to pay $11 billion as part of his sentence.\" Bankman-Fried was sentenced to 25…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}