SBF asks Supreme Court to overturn conviction, $11B forfeiture: Report

cointelegraphPublished on 2026-09-11Last updated on 2026-09-11

Abstract

Former FTX CEO Sam Bankman-Fried has reportedly petitioned the U.S. Supreme Court to overturn his 2023 fraud conviction and a related $11 billion forfeiture order. According to a court filing, his lawyers are seeking a new trial and the reversal of the forfeiture, arguing that the trial judge improperly excluded evidence that his investments could have covered customer losses and that the fine violates the constitutional ban on excessive fines. This follows a recent decision by a federal appeals court to uphold his conviction and 25-year prison sentence. Bankman-Fried was convicted on seven counts of fraud and conspiracy for misusing billions in FTX customer funds.

Former FTX CEO Sam Bankman-Fried reportedly asked the US Supreme Court to overturn his 2023 fraud conviction.

He sought a new trial and the reversal of an $11 billion forfeiture order, according to a Thursday court filing seen by CNN.

His lawyers argued that the trial judge excluded evidence that his investments were sound and would have covered FTX customers’ losses. They also argued that the $11 billion forfeiture violated the Eighth Amendment’s ban on excessive fines.

A three-judge panel of the 2nd US Circuit Court of Appeals upheld his conviction and 25-year prison sentence on June 12. He has also applied for a pardon from US President Donald Trump.

Bankman-Fried was sentenced to 25 years in prison in March 2024 after his conviction on seven counts of fraud and conspiracy.

Prosecutors said he used billions of dollars in FTX customer funds to repay Alameda Research’s debts and finance investments, political donations and personal spending.

Related: Sam Bankman-Fried claims Biden DOJ silenced witnesses during FTX trial

Related Questions

QWhat did Sam Bankman-Fried's lawyers argue in their appeal to the Supreme Court regarding the evidence at his trial?

AThey argued that the trial judge excluded evidence showing his investments were sound and would have covered FTX customer losses.

QWhat constitutional amendment did Bankman-Fried's lawyers cite to challenge the $11 billion forfeiture order?

AThey cited the Eighth Amendment, arguing the forfeiture violated its ban on excessive fines.

QWhat was the outcome of his appeal at the 2nd US Circuit Court of Appeals on June 12?

AA three-judge panel of the 2nd US Circuit Court of Appeals upheld his conviction and 25-year prison sentence.

QBesides the Supreme Court appeal, what other legal avenue has Bankman-Fried pursued regarding his case?

AHe has applied for a pardon from US President Donald Trump.

QAccording to prosecutors, how did Sam Bankman-Fried misuse FTX customer funds?

AProsecutors said he used billions in FTX customer funds to repay Alameda Research's debts and finance investments, political donations, and personal spending.

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