FTX’ Sam Bankman-Fried appeals conviction and 25-year sentence for fraud

Bankman-Fried faces steep odds in bid to overturn conviction stemming from the collapse of his cryptocurrency exchange.

FTX founder Sam Bankman-Fried has appealed his conviction and 25-year prison sentence for stealing billions of dollars from customers of his defunct cryptocurrency exchange.

Bankman-Fried was convicted in November on seven counts of fraud and conspiracy in what US authorities described as one of the biggest financial frauds in US history.

The 32-year-old former billionaire was the poster boy for cryptocurrency,  gracing magazine covers and enjoying audiences with lawmakers, before the speculator collapse of FTX in 2022 amid a deluge of customer withdrawals.

Bankman-Fried’s lawyer Marc Mukasey had announced his intention to appeal the verdict and sentence during his sentencing hearing on March 28.

During his sentencing, Bankman-Fried expressed regret over his handling of FTX, saying he was “sorry about what happened at every stage”.