Appeals Court Rejects SBF Bid to Overturn FTX Fraud Conviction, 25-Year Sentence

A federal appeals court rejected FTX founder Sam Bankman-Fried’s bid to overturn his fraud conviction and 25-year prison sentence tied to the exchange’s $8 billion collapse. According to BeInCrypto, a three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan on June 12, 2026 denied his appeal and upheld his 2023 conviction on seven felony counts, including wire fraud and conspiracy. Defense lawyers said Judge Lewis Kaplan unfairly excluded evidence that FTX was solvent, while prosecutors cited testimony that Bankman-Fried directed customer funds to cover Alameda Research losses.