<span class="acf-media-credit"><span class="acf-credit"><span class="acf-credit"><a href="https://theblock.co" target="_blank">The Block</a></span></span><span class="acf-credit"> | <span class="acf-credit"><a href="https://www.alamy.com/washington-usa-15th-sep-2022-sam-bankman-fried-ceo-and-founder-of-ftx-walks-near-the-us-capitol-in-washington-dc-on-thursday-september-15-2022-graeme-sloansipa-usa-credit-sipa-usaalamy-live-news-image482614948.html?imageid=7DED721D-1E4B-4096-B7F4-6211DA1CFE5A" target="_blank">Sipa USA/Alamy Live News</a></span></span></span>Sam Bankman-Fried has filed a petition with the U.S. Supreme Court to overturn his fraud conviction and a forfeiture of $11 billion.
Bankman-Fried, who co-founded and led now-defunct crypto exchange FTX, is serving a 25-year prison sentence after a jury convicted him on seven counts of fraud, conspiracy, and money laundering for orchestrating a multibillion-dollar scheme to misappropriate customer funds and defraud investors and lenders.
The petition argues the trial court blocked Bankman-Fried from showing that “FTX and Alameda, while temporarily illiquid, held sufficient assets to ultimately make investors and customers whole,” and that “there were always more than enough assets available to repay customers (as they now have been repaid, with substantial interest).”
