USA · updated 1h ago · 2 min read
Sam Bankman-Fried Asks U.S. Supreme Court to Overturn Fraud Conviction and $11 Billion Forfeiture
SBF petitioned the U.S. Supreme Court to overturn his fraud conviction and $11 billion forfeiture. He seeks a new trial, arguing evidence about asset availability and repayments was excluded.
12 outlets, one story, no spin found.
9 of 12 outlets skipped it: the Supreme Court review is expected later in 2026.
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SBF seeks Supreme Court review
Sam Bankman-Fried asked the U.S. Supreme Court to overturn his 2023 fraud conviction and seek a new trial, according to a Thursday court filing seen by CNN.
“asked the Supreme Court on Thursday for a new trial and to throw out a court order requiring him to pay $11 billion”
The appeal also targets an $11 billion forfeiture order, which his lawyers say violates the Eighth Amendment’s ban on excessive fines.
CNN reported that Bankman-Fried’s lawyers argued the trial judge excluded evidence that his investments were sound and would have covered FTX customers’ losses.
A three-judge panel of the 2nd U.S. Circuit Court of Appeals upheld his conviction and 25-year prison sentence on June 12, and Bankman-Fried is serving that 25-year sentence.
The New York Times reported that Bankman-Fried asked the Supreme Court on Thursday to overturn his conviction while he is serving a 25-year prison sentence after a jury convicted him in 2023.
Evidence, losses, and fairness
In the Supreme Court appeal, Bankman-Fried’s lawyers argued that the trial court blocked him from presenting evidence that his investments were sound and could have covered FTX customers’ losses.
CNN quoted veteran Supreme Court attorney Jeffrey Fisher saying, "Where the government pursues a theory of fraud under which it doesn’t matter whether any victims lost money, introducing evidence suggesting that people actually lost money is distracting and prejudicial."
The CNN report also said Fisher added, "All the more so where the truth is the victims did not lose money, and the defendant is unable to make that clear."
The case hinges on a technical question about evidence, and CNN said the appeal turns on whether Bankman-Fried should have been permitted to demonstrate that his investments were ultimately sound and would have covered any losses by FTX customers.
CNN further reported that the Supreme Court will review the appeal later this year, after the 2nd Circuit rejected the arguments earlier this year.
Forfeiture and next steps
Bankman-Fried’s petition also challenges the forfeiture amount, with CNN describing it as a $11 billion order that he asked the Supreme Court to throw out.
“"there were always more than enough assets available to repay customers (as they now have been repaid, with substantial interest)."”
The New York Times reported that lawyers for Bankman-Fried argued the trial court erred by blocking him from presenting evidence that "there were always more than enough assets available to repay customers (as they now have been repaid, with substantial interest)."
The New York Times also said Bankman-Fried challenged the trial court’s order that he forfeit about $11 billion, calling it a "crushing fine" that collided with the Eighth Amendment’s protection against excessive fines.
CNN reported that prosecutors said Bankman-Fried directed billions of dollars from FTX to Alameda Research, where funds were used for risky investments, political donations and his own personal benefit.
Separately, the New York Times reported that Bankman-Fried has applied for a pardon from President Trump, and that the Office of the Pardon Attorney listed his request for a "pardon after completion of sentence" as "pending."