Source: New York Post
Sam Bankman-Fried on Friday lost his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of the FTX cryptocurrency exchange he founded. In a unanimous decision, a three-judge panel of the Manhattan-based 2nd US Circuit Court of Appeals said prosecutors’ evidence against Bankman-Fried “was, conservatively stated, robust. ” “While he was publicly reassuring customers, investors and regulators that FTX customer funds were safe, he was simultaneously using FTX as his own personal piggy bank, spending customer funds on real estate, political contributions, and investments,” Circuit Judge Barrington Parker wrote on behalf of the panel.
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