Sam Bankman-Fried requested the U.S. Supreme Courtroom on Thursday to overturn his fraud conviction stemming from the collapse of FTX, following high-profile pardons of Silk Highway founder Ross Ulbricht and Binance co-founder CZ.
He’s serving a 25-year jail sentence following his 2023 conviction, and his legal professionals are additionally difficult an roughly $11Bn forfeiture.
The justices should first determine whether or not to listen to the case. The court docket receives hundreds of such requests every year and agrees to listen to arguments in about 60 circumstances.
JUST IN: Sam Bankman-Fried has requested the U.S. Supreme Courtroom to overturn his 2023 fraud conviction and 25-year jail sentence.
SBF is now taking his case to the very best court docket within the U.S.
This may very well be an enormous growth for the FTX founder. pic.twitter.com/J75ckwPdMM— That Martini Man ₿ (@MartiniGuyYT) September 11, 2026
What Does the Petition from Sam Bankman-Fried Truly Problem?
The petition challenges key components of the case in opposition to Bankman-Fried, together with the conviction and the forfeiture order.
- The conviction: His legal professionals argue the trial court docket improperly prevented him from presenting proof about whether or not FTX clients finally recovered their cash.
- The forfeiture order: The protection argues that the roughly $11 billion forfeiture is extreme below the Eighth Modification.
- A separate pardon utility: On-line information from the Workplace of the Pardon Lawyer record Bankman-Fried’s request for a pardon from President Trump as pending.
Bankman-Fried was convicted on seven counts of fraud and conspiracy after a monthlong federal jury trial. In June, a three-judge panel of the U.S. Courtroom of Appeals for the Second Circuit affirmed the judgment.
The appellate court docket described the case as involving the cryptocurrency change FTX and Alameda Analysis, the cryptocurrency buying and selling agency that Bankman-Fried operated and managed.
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What are SBF’s Attorneys Saying?
His legal professionals have argued that FTX and Alameda held ample property to repay clients and that the court docket’s limits on proof about these property disadvantaged him of a good trial. The petition factors to FTX’s chapter plan, below which just about all collectors had been promised money funds, together with curiosity, to get better their losses.
Federal prosecutors have maintained that FTX clients had been defrauded by Bankman-Fried’s dealing with of their cash, together with the misappropriation of billions of {dollars} in buyer funds. The Second Circuit stated the federal government’s trial principle was that Bankman-Fried promised clients their funds could be safe on the platform and used just for cryptocurrency transactions, however transferred buyer funds to Alameda and elsewhere for unauthorized functions. The court docket affirmed the district court docket’s judgment.
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From Billionaire to Defendant: The Story of Sam Bankman-Fried
Bankman-Fried based FTX in 2019 and grew it into one of many world’s largest crypto exchanges. The corporate’s progress introduced him wealth and public prominence, and he turned one of many world’s youngest billionaires and a prime Democratic donor.
FTX collapsed in 2022 after a run on deposits compelled the agency out of business. Bankman-Fried was arrested later that 12 months within the Bahamas, the place he had been residing, and was extradited to america to face trial. The Second Circuit’s account states that FTX filed for chapter in November 2022 after it couldn’t meet buyer withdrawal requests.
Bankman-Fried has maintained his innocence. Prosecutors characterised the case as one of many largest monetary frauds in historical past and alleged that he stole billions of {dollars} from FTX clients whereas presenting himself as a accountable philanthropist.
What Occurs Subsequent
The Supreme Courtroom has not indicated whether or not it’s going to take up Bankman-Fried’s petition. Its choice on whether or not to listen to the case will decide whether or not the problem receives additional consideration.
The pending pardon utility is a separate matter from the Supreme Courtroom petition. The Workplace of the Pardon Lawyer, a division of the Justice Division, lists the applying as a request for a pardon after completion of sentence and marks it as pending.
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