Sam Bankman-Fried has lost his appeal against his fraud conviction and 25-year prison sentence, with a federal appeals court in Manhattan ruling that the former FTX chief executive received a fair trial and was properly convicted for his role in the collapse of the cryptocurrency exchange.
A three-judge panel of the U.S. Court of Appeals for the Second Circuit upheld both the conviction and sentence on Friday, concluding that the evidence presented by prosecutors was overwhelming. The judges described Bankman-Fried as the "main driver of one of the largest frauds on record," according to a ruling cited by Forbes.
