Sam Bankman-Fried loses bid to appeal against fraud conviction in FTX case

Sam Bankman-Fried's appeal of his fraud conviction in the FTX collapse was rejected by a three-judge appellate panel, upholding his 25-year prison sentence. Bankman-Fried was convicted in 2023 on seven felony counts for stealing $8 billion from FTX customers, a crime prosecutors called a "fraud of epic proportions." His defense argued the trial judge improperly restricted evidence, but prosecutors presented overwhelming testimony from former deputies showing he directed them to raid customer funds.