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Home Regulations

Disgraced FTX Founder Sam Bankman-Fried Files To Appeal His Fraud Conviction and 25-Year Prison Sentence

n70products by n70products
April 13, 2024
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FTX founder Sam Bankman-Fried has requested an appellate courtroom to assessment his case two weeks after a US district decide sentenced him to spend greater than twenty years behind bars.

In a brand new courtroom doc filed on April eleventh, Bankman-Fried’s lawyer, Alexandra Shapiro, notified the US District Courtroom for the Southern District of New York that the previous chief government is interesting his conviction and sentence to the US Courtroom of Appeals for the Second Circuit.

Authorities accused Bankman-Fried of facilitating a scheme that siphoned over $8 billion in FTX buyer funds to his buying and selling agency, Alameda Analysis, representing what prosecutors known as one of many largest monetary frauds in historical past.

In November, a jury discovered Bankman-Fried responsible of wire fraud and conspiracy to commit wire fraud towards FTX clients; wire fraud and conspiracy to commit wire fraud towards Alameda lenders; conspiracy to commit securities fraud towards FTX buyers; conspiracy to commit commodities fraud towards FTX clients and conspiracy to commit cash laundering.

On March twenty eighth, Choose Lewis A. Kaplan sentenced Bankman-Fried to 25 years in jail and three years of supervised launch. He additionally ordered the 32-year-old to pay $11 billion in forfeiture.

Bankman-Fried already expressed an intention on the time to attraction his conviction and sentence.

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