Sam Bankman-Fried, the founder of the collapsed FTX cryptocurrency exchange, lost his bid on Friday, June 12, to overturn his fraud conviction and 25-year prison sentence.
The decision was handed down by a three-judge panel of the New York-based second US circuit court of appeals. The federal appeals court upheld the 2023 conviction, rejecting the co-founder's claims that he did not receive a fair trial.
Bankman-Fried was convicted of fraud and other charges, including stealing $10 billion from his own customers.