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      Sam Bankman-Fried Appeals Conviction to U.S. Supreme Court Amid Pardon Application Stalemate

      Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, has filed a petition with the U.S. Supreme Court following the upholding of his conviction by an appeals court in June 2026. Currently serving a 25-year prison sentence for fraud, Bankman-Fried's legal team is challenging his November 2023 conviction on multiple charges, including wire fraud and money laundering, as well as a forfeiture order of $11.02 billion issued during his sentencing in March 2024.

      The petition, submitted on September 10, 2026, argues that the trial court made significant errors, particularly by allowing the prosecution to present evidence of customer losses while preventing the defense from introducing evidence that FTX and its sister company, Alameda Research, had sufficient assets to repay customers with interest. Additionally, the defense contends that the forfeiture amount is excessively punitive under the Eighth Amendment's prohibition against disproportionate penalties.

      Simultaneously, a pardon application filed on June 8, 2026, remains stagnant, with no indications of progress through the executive clemency process. This lack of movement further complicates Bankman-Fried's situation, as he awaits the Supreme Court's decision, which is expected later in 2026. His co-conspirators, including former Alameda CEO Caroline Ellison, received lighter sentences after cooperating with prosecutors, highlighting the stark contrast in outcomes for those involved in the FTX scandal.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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