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