A federal appeals court has rejected Sam Bankman-Fried's attempt to overturn his fraud and conspiracy convictions, upholding the 25-year prison sentence handed down in March 2024. The former FTX CEO was found guilty of orchestrating one of the largest financial frauds in history, stealing billions in customer deposits from the cryptocurrency exchange.
The court ruled that the evidence presented at trial was sufficient to support the jury's verdict and that no legal errors occurred. If all remaining appeals fail, Bankman-Fried would be eligible for release in 2044.
Bankman-Fried is currently incarcerated at the Metropolitan Detention Center in Brooklyn, New York. His legal team has indicated they may seek further review from the Supreme Court.