The U.S. Second Circuit Court of Appeals has issued an official mandate affirming the sentence of Sam Bankman-Fried, the founder of FTX. This finalizes the ordinary appeal process, leaving further options only for an appeal to the U.S. Supreme Court or through extraordinary procedures.
The court also dismissed the defense's argument that the intention to eventually return client funds negated any fraudulent intent. In March 2024, Bankman-Fried was sentenced to 25 years in prison.