Disgraced FTX Founder Sam Bankman-Fried Files To Appeal His Fraud Conviction and 25-Year Prison Sentence

FTX founder Sam Bankman-Fried has requested an appellate courtroom to evaluate his case two weeks after a US district decide sentenced him to spend greater than twenty years behind bars.

In a brand new courtroom doc filed on April eleventh, Bankman-Fried’s lawyer, Alexandra Shapiro, notified the US District Courtroom for the Southern District of New York that the previous chief govt is interesting his conviction and sentence to the US Courtroom of Appeals for the Second Circuit.

Authorities accused Bankman-Fried of facilitating a scheme that siphoned over $8 billion in FTX buyer funds to his buying and selling agency, Alameda Analysis, representing what prosecutors referred to as one of many largest monetary frauds in historical past.

In November, a jury discovered Bankman-Fried responsible of wire fraud and conspiracy to commit wire fraud in opposition to FTX clients; wire fraud and conspiracy to commit wire fraud in opposition to Alameda lenders; conspiracy to commit securities fraud in opposition to FTX buyers; conspiracy to commit commodities fraud in opposition to FTX clients and conspiracy to commit cash laundering.

On March twenty eighth, Decide Lewis A. Kaplan sentenced Bankman-Fried to 25 years in jail and three years of supervised launch. He additionally ordered the 32-year-old to pay $11 billion in forfeiture.

Bankman-Fried already expressed an intention on the time to enchantment his conviction and sentence.

Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox

Test Price Action

Comply with us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Day by day Hodl aren’t funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any loses you could incur are your duty. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please observe that The Day by day Hodl participates in internet online affiliate marketing.

Generated Picture: Midjourney