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U.S. Appeals Court Upholds 25-Year Fraud Conviction for SBF on Friday

GateNews
Enforcement Actions

According to Odaily, the U.S. Second Circuit Court of Appeals upheld the 2023 fraud conviction against former crypto mogul Sam Bankman-Fried on Friday, sentencing him to 25 years in prison. The court rejected his defense claims regarding platform over-collateralization and customer compensation.

SBF had recently applied for a presidential pardon, but the U.S. President stated in January there were no plans to pardon the FTX founder.

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