A federal appeals court upheld the former FTX chief’s conviction, while his bid for clemency from President Donald Trump appears to face steep political odds.
Former FTX CEO Sam Bankman-Fried failed to overturn his fraud conviction and 25-year prison sentence tied to the collapse of FTX after a three-judge appeals panel rejected his bid for relief.
The unanimous ruling by the 2nd US Circuit Court of Appeals in Manhattan, New York, found that the government’s case against Bankman-Fried was, in the court’s words, “conservatively stated, robust,” according to Reuters.
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