Sam Bankman-Fried loses his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of FTX
Sam Bankman-Fried lost on Friday his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of the FTX cryptocurrency exchange he founded.
Lead Source
How this story grew
More
Discussion
TechSnif Coverage
SBF's Appeal Rejected: 25-Year Sentence Stands
Sam Bankman-Fried fails to overturn his fraud conviction and 25-year prison sentence tied to the FTX collapse.
Sam Bankman-Fried just hit a legal wall. The disgraced crypto mogul lost his appeal on Friday, meaning his fraud conviction and 25-year prison sentence remain firmly in place.
The ruling shuts down what was likely his best shot at escaping the consequences of FTX's spectacular implosion. Bankman-Fried founded the cryptocurrency exchange, which collapsed in dramatic fashion, wiping out billions in customer funds.
A jury had already found him guilty of fraud charges. His legal team challenged the conviction, but the appeals court wasn't buying it.
The 25-year sentence is one of the harshest ever handed down in a white-collar crypto case. For SBF, the road ahead looks like decades behind bars with no more legal lifelines in sight.