November 23, 2024

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Appeals court rejects Sam Bankman-Fried’s bid for release

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Appeals court rejects Sam Bankman-Fried’s bid for release

FTX founder and convicted fraudster Sam Bankman-Fried will stay jailed after failing to convince a United States appellate court that he should be freed while his legal team appeals his conviction.

In a Nov. 21

That argument was struck down, with the court stating that the District Court “thoroughly considered” all relevant factors, including Bankman-Fried while he was on pretrial release.

Bankman-Fried was found guilty of seven fraud and money laundering-related charges on Nov. 2.

The former FTX CEO will remain behind bars while he awaits his sentencing on March 28 next year.

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