U.S. Appeals Court Upholds SBF's Conviction, 25-Year Sentence, and $11 Billion Forfeiture Order
2026-08-06 17:25
Odaily News: The U.S. Court of Appeals for the Second Circuit has issued a formal order upholding the conviction and sentencing of former FTX CEO Sam "SBF" Bankman-Fried. The lower court previously found him guilty on seven felony counts and sentenced him to 25 years in federal prison.
The three-judge panel rejected Bankman-Fried's appeal arguments that FTX had sufficient liquidity and that investors would be fully repaid without incurring losses, and upheld the $11 billion forfeiture order issued by the New York court in the criminal case.
Circuit Judge Barrington D. Parker stated in the opinion that even if Bankman-Fried believed he would ultimately repay customers, it does not affect the applicability of wire fraud laws to the temporary misappropriation of funds or property. With the order now in effect, his legal avenues for seeking early release have narrowed, including options such as applying for a presidential pardon or appealing to the Supreme Court.
The three-judge panel rejected Bankman-Fried's appeal arguments that FTX had sufficient liquidity and that investors would be fully repaid without incurring losses, and upheld the $11 billion forfeiture order issued by the New York court in the criminal case.
Circuit Judge Barrington D. Parker stated in the opinion that even if Bankman-Fried believed he would ultimately repay customers, it does not affect the applicability of wire fraud laws to the temporary misappropriation of funds or property. With the order now in effect, his legal avenues for seeking early release have narrowed, including options such as applying for a presidential pardon or appealing to the Supreme Court.
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