Sam Bankman-Fried's appeal of his fraud conviction was denied; he has submitted a pardon petition to the Trump Justice Department.
Regulation & Gov ·
An appeals court has upheld Sam Bankman-Fried's 25-year sentence for fraud related to FTX, rejecting his bid for a new trial in the case. The decision represents a significant setback in Bankman-Fried's legal efforts to overturn his conviction stemming from the collapse of the cryptocurrency exchange.
Following the appellate rejection, Bankman-Fried has pursued an alternative path by submitting a pardon request, reportedly directed toward the Trump administration. This move signals a shift in strategy as his judicial challenges have been exhausted at the appellate level.
The outcome leaves Bankman-Fried's conviction and sentence in place barring further legal action or executive clemency. The viability and likelihood of the pardon petition remain undetermined, as do any statements from the Trump administration regarding its consideration.