A federal appeals court panel has upheld Sam Bankman-Fried's criminal conviction on fraud and conspiracy charges, rejecting his argument that his original trial was conducted unfairly. The former FTX CEO, who was sentenced to 25 years in prison following his 2023 conviction, had sought to overturn the verdict by challenging the trial's proceedings. The three-judge panel ruled Friday that his arguments were insufficient to warrant a new trial. Bankman-Fried was found guilty of defrauding FTX customers and investors by misappropriating billions of dollars in customer funds through his trading firm Alameda Research. The ruling closes a significant avenue for relief and reinforces the legal consequences stemming from one of the most high-profile collapses in cryptocurrency industry history.
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