A three-judge panel of the U.S. Court of Appeals for the Second Circuit unanimously affirmed Sam Bankman-Fried’s fraud conviction and 25-year prison sentence.
The ruling rejected claims that his trial was unfair or that evidentiary rulings precluded a proper defense, Reuters reports.
The court described the government’s evidence as robust and named Bankman-Fried as the main enabler of one of the largest frauds ever, including the collapse of the crypto exchange FTX.
The panel reviewed the arguments regarding the fairness of the trial and found them unconvincing in a 42-page opinion.
Bankman-Fried was convicted in 2023 on charges of misusing customer funds on the cryptocurrency exchange.
The appeal decision leaves the sentence and $11 billion forfeiture order intact.
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