EconomyLens.com
No Result
View All Result
Wednesday, July 16, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Business

Sam Bankman-Fried appeals fraud conviction, 25-year jail term

Thomas Barnes by Thomas Barnes
April 11, 2024
in Business
Reading Time: 3 mins read
A A
3
21
SHARES
257
VIEWS
Share on FacebookShare on Twitter

Fallen crypto wunderkind Sam Bankman-Fried has formally appealed his conviction and sentence . ©AFP

New York (AFP) – Fallen cryptocurrency wunderkind Sam Bankman-Fried has appealed his federal conviction and 25-year jail sentence in a sweeping fraud case, according to a legal filing made public Thursday.

Related

Stellantis pulls plug on hydrogen fuel cell vans

Stellantis pulls plug on hydrogen fuel cell vans

Fallen Austrian tycoon Benko charged with fraud

Las Vegas Sands makes $8 bn Singapore bet with resort expansion

Tesla marks India entry with first showroom 

News of the appeal comes two weeks after US District Court Judge Lewis Kaplan set the prison term and ordered Bankman-Fried, known as “SBF,” to pay $11 billion in forfeiture.

Bankman-Fried had soared to the top of the crypto world, becoming a billionaire before age 30 and turning FTX, a small start-up he cofounded in 2019, into the world’s second largest exchange platform.

But in November 2022, Bankman-Fried’s breakneck rise came crashing down, with a deluge of customer withdrawals and revelations that billions of dollars had been illegally moved from FTX to Bankman-Fried’s personal hedge fund, Alameda Research.

He was convicted by a federal jury in New York in November 2023 on seven counts of fraud, embezzlement and criminal conspiracy.

During last month’s sentencing hearing, Bankman-Fried expressed regret about the firm’s demise, which also affected many colleagues.

“It haunts me every day,” he said. “I made a series of bad decisions.”

But the judge said Bankman-Fried had not fully accepted responsibility.

Bankman-Fried said “mistakes were made, but never a word of remorse for the commission of a terrible crime,” said Kaplan, who characterized the violations as “brazen” and called out SBF for his “exceptional flexibility” towards the truth.

© 2024 AFP

Tags: convictioncryptocurrencyfraud
Share8Tweet5Share1Pin2Send
Previous Post

European shares sag after ECB as Nasdaq rallies

Next Post

Apple to fix ‘bug’ behind Palestinian flag emoji suggestions

Thomas Barnes

Thomas Barnes

Related Posts

Business

Skidding Nissan to halt production at Japanese plant

July 15, 2025
Business

LVMH Italian fashion house Loro Piana put under court administration

July 15, 2025
Business

Japan’s World Barber Classic tries to bring back business

July 14, 2025
Business

Mexican voice actors demand regulation on AI voice cloning

July 14, 2025
Business

France says Australia defence ties repaired after submarine row

July 13, 2025
Business

Fuel to Air India jet engines cut off moments before crash: probe

July 12, 2025
Next Post

Apple to fix 'bug' behind Palestinian flag emoji suggestions

Ohtani translator charged with stealing over $16 mn from Dodgers star

Educated and unemployed: India's angry young voters

Asian stocks sink despite to track Wall St gains, earnings in focus

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
3 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Stocks steady as traders weigh inflation data, trade deal

July 16, 2025

French PM proposes cutting national holidays to cut debt

July 16, 2025

Stellantis pulls plug on hydrogen fuel cell vans

July 16, 2025

Stellantis pulls plug on hydrogen fuel cell vans

July 16, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.