US appellate court mandate affirms Sam Bankman-Fried conviction
Summary
The Second Circuit has formally issued its mandate upholding Sam Bankman-Fried’s conviction and 25-year sentence, leaving him with very limited options for early release. The court had already affirmed his seven felony convictions and a New York order requiring about $11 billion in forfeiture. Judges rejected his argument that FTX customers could not have been defrauded because he allegedly intended to repay them, ruling that wire fraud covers even temporary misappropriation of funds and that the fraud occurred once customer money was transferred to Alameda. With the mandate now in effect, his remaining paths are narrow, mainly a possible Supreme Court appeal or a presidential pardon, though both appear unlikely.
