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Former crypto billionaire Sam Bankman-Fried appeals conviction to Supreme Court

Former crypto billionaire Sam Bankman-Fried appeals conviction to Supreme Court

Sam Bankman-Fried, the formercryptomogul who was convicted of defrauding investors by secretly diverting billions of dollars of their money, asked the Supreme Court on Thursday for a new trial and to throw out a court order requiring him to pay $11 billion as part of his sentence.

Bankman-Fried was sentenced to 25 years in prison in 2024 after prosecutors said he directed billions of dollars from the crypto exchange FTX to a hedge fund he controlled called Alameda Research, where the funds were used for risky investments, political donations and his own personal benefit.

The Supreme Court appeal, which was reviewed by CNN, raises a technical question about evidence that was submitted at his trial, and whether Bankman-Fried…

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