US federal appeals court upholds SBF's fraud conviction

Odaily reports that a US federal appeals court upheld the fraud conviction of former cryptocurrency mogul SBF from 2023 on Friday. This decision came just days after Sam Bankman-Fried applied for a presidential pardon.

A panel of judges from the Manhattan-based Second Circuit Court of Appeals rejected his defense that the platform was over-collateralized and that all customers had been compensated. Sam Bankman-Fried was sentenced to 25 years in prison for conspiracy and fraud charges. Although he hoped to receive a presidential pardon from the US President after serving his sentence, the US President stated in January that there were no plans to pardon the FTX founder. (justthenews)