Sam Bankman-Fried Appeals to US Supreme Court to Overturn Fraud Conviction
Summary
- Sam Bankman-Fried has appealed to the US Supreme Court to overturn his fraud conviction.
- His lawyers said evidence was excluded showing FTX customers' losses could have been repaid and that Bankman-Fried's investments were sound.
- The defense is seeking to cancel the $11 billion asset forfeiture order as excessive, and Bankman-Fried has also applied to President Donald Trump for a pardon.
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Sam Bankman-Fried, founder of bankrupt digital-asset exchange FTX, has asked the US Supreme Court to overturn his fraud conviction, according to Cointelegraph and other media reports.
Lawyers for Bankman-Fried filed the appeal with the Supreme Court on September 10 and requested a new trial. They also asked the court to vacate its order requiring the forfeiture of $11 billion in assets.
The defense argued that the trial did not adequately consider evidence that FTX customers' losses could have been repaid. It said the court excluded evidence intended to show that investments carried out by Bankman-Fried were sound and that the value of those assets could have covered customer losses.
The lawyers also argued that the $11 billion forfeiture order violates the Eighth Amendment to the US Constitution, which prohibits excessive fines.
The US Court of Appeals for the Second Circuit upheld Bankman-Fried's conviction and 25-year prison sentence in June. Bankman-Fried has also sought a pardon from US President Donald Trump.
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