FTX's Sam Bankman-Fried Seeks Supreme Court Review
Sam Bankman-Fried, the founder of the now-defunct cryptocurrency platform FTX, has submitted a petition to the United States Supreme Court requesting a retrial and reversal of his conviction on seven criminal charges, including fraud and money laundering.
The 32-year-old is currently serving a 25-year prison sentence following his conviction in 2023. His defense attorneys argue that the trial judge prevented them from demonstrating that FTX had sufficient resources to reimburse customer deposits, which they claim would have shown no permanent financial harm occurred.
The appeal also challenges an $11 billion asset forfeiture ruling as unconstitutional under the 8th Amendment's excessive fines clause. The Supreme Court is expected to announce whether it will accept the case for review in the coming months.