SBF files an appeal with the U.S. Supreme Court, seeking to overturn his fraud conviction.
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According to CNN, FTX founder Sam Bankman-Fried (SBF) filed an appeal with the U.S. Supreme Court on Thursday, seeking a new trial and the overturning of a court order seizing $11 billion in his assets. SBF was sentenced to 25 years in prison in 2024. Prosecutors alleged he directed the transfer of billions in funds from crypto exchange FTX to his controlled hedge fund Alameda Research, which were subsequently used for high-risk investments, political donations, and personal spending. The Supreme Court appeal documents primarily address a technical legal issue regarding evidence submitted during the trial, and whether SBF should be allowed to prove his investments ultimately turned a profit sufficient to compensate FTX customers for their losses. Additionally, he argues that the $11 billion asset seizure violates the Eighth Amendment of the U.S. Constitution, which prohibits excessive fines.
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