FTX co-founder Sam Bankman-Fried will remain in PMITA prison for the foreseeable future, after a federal appeals court rejected a hail-mary attempt to overturn his fraud conviction and 25-year prison sentence on the grounds that he didn't receive a fair trial.
A three-judge panel on Friday unanimously refused to toss his 2023 guilty verdict, which SBF's attorneys argued was tainted by improper evidentiary rulings and a biased judge - which is hilarious because Judge Lewis Kaplan is a Clinton-appointed judge who oversaw the E. Jean Carroll v. Trump Bergdorf Goodman 'fingering' trial - where despite Carroll not being able to remember the year it allegedly happened, and the Jury ruling "no" as to whether Trump raped Carroll, Kaplan went leeroy jenkins and awarded her $5 million.
"The government’s evidence against him was, conservatively stated, robust," Judge Barrington Parker wrote for the panel.
As the Epoch Times notes further, Bankman-Fried was found guilty by a New York jury in November 2023 on seven counts of fraud and conspiracy tied to the collapse of FTX, once one of the world’s largest digital-asset trading platforms.
The company collapsed in a matter of days in November 2022 after reports about the financial ties between FTX and Alameda Research, a crypto trading firm also founded by Bankman-Fried. Those reports showed that Alameda held a large amount of FTX’s own token, raising questions about the company’s financial stability and triggering a wave of customer withdrawals.
The collapse sent shockwaves through the broader crypto market, driving the total value of digital assets down from an all-time high of about $3 trillion in late 2021 to roughly $800 billion by the end of 2022.
Federal prosecutors described Bankman-Fried’s scheme as one of the largest financial frauds in American history. They said the evidence showed that while he assured investors, regulators, and the public that FTX customer funds were safe, he secretly transferred billions of dollars from customer accounts to Alameda and other entities.
Prosecutors said Bankman-Fried then used those funds to make investments unrelated to FTX customer deposits, cover Alameda’s losses, and finance other spending, while falsifying business records to conceal the transactions.
He was later sentenced to 25 years in federal prison.
His attorney did not immediately respond to a request for comment.
The ruling comes as Bankman-Fried has formally submitted a pardon request to President Donald Trump, according to information posted on the Department of Justice Office of the Pardon Attorney website.
The exact date of the filing is unclear, but the website states that a request for a “pardon after completion of sentence” was submitted in 2026 and remains pending.
In an interview with Fox Business from prison earlier this week, Bankman-Fried said he “absolutely” wants a pardon, though he acknowledged that the decision is “ultimately up to the president, not up to me.”
The White House did not respond to a request for comment on that matter.
Trump, meanwhile, said in a January interview with The New York Times that he was not interested in pardoning a list of high-profile figures that included Bankman-Fried. When asked about Bankman-Fried, Trump replied, “I don’t know him at all.”