⚖️ SBF Appeals to Supreme Court to Overturn Conviction and $11B Fine
Former FTX CEO Sam Bankman-Fried has officially petitioned the US Supreme Court to overturn his 2023 fraud conviction. The filing also seeks to reverse a massive $11 billion forfeiture order, arguing the fine is excessive and violates the Eighth Amendment.
His legal team claims the original trial judge unfairly excluded evidence showing his investments were sound and could have potentially covered FTX customer losses. This move follows a June decision by the 2nd US Circuit Court of Appeals that upheld his 25-year prison sentence.
Bankman-Fried was convicted on seven counts of fraud and conspiracy for using billions in customer funds to finance Alameda Research debts and personal spending. Beyond the court system, he has also reportedly applied for a pardon from President Donald Trump.
#FTX #SBF #CryptoNews #SupremeCourt
Former FTX CEO Sam Bankman-Fried has officially petitioned the US Supreme Court to overturn his 2023 fraud conviction. The filing also seeks to reverse a massive $11 billion forfeiture order, arguing the fine is excessive and violates the Eighth Amendment.
His legal team claims the original trial judge unfairly excluded evidence showing his investments were sound and could have potentially covered FTX customer losses. This move follows a June decision by the 2nd US Circuit Court of Appeals that upheld his 25-year prison sentence.
Bankman-Fried was convicted on seven counts of fraud and conspiracy for using billions in customer funds to finance Alameda Research debts and personal spending. Beyond the court system, he has also reportedly applied for a pardon from President Donald Trump.
#FTX #SBF #CryptoNews #SupremeCourt