TLDR
- Sam Bankman-Fried filed a petition with the U.S. Supreme Court on September 10, asking justices to review his seven-count fraud conviction.
- He is currently serving a 25-year prison sentence and faces an $11.02 billion forfeiture order tied to the collapse of FTX.
- His lawyers argue the trial court wrongly let prosecutors present loss evidence while blocking defense evidence about potential repayment to customers.
- The petition also claims the $11 billion forfeiture violates the Eighth Amendment’s ban on excessive fines.
- The Supreme Court must first agree to hear the case, and four of nine justices must vote in favor before any review begins.
Sam Bankman-Fried has asked the U.S. Supreme Court to overturn his fraud conviction. The former FTX chief filed the petition on September 10, 2026.
He is currently serving a 25-year federal prison sentence. A jury convicted him on seven counts in 2023, including wire fraud, conspiracy, and money laundering.
Judge Lewis Kaplan also ordered Bankman-Fried to forfeit $11.02 billion. That order came after his March 2024 sentencing in the Southern District of New York.
The Second Circuit Court of Appeals upheld his conviction and sentence in June 2026. That ruling rejected his earlier appeal on similar grounds.
What the Petition Argues
Bankman-Fried’s lawyers say the trial court made an unfair evidentiary decision. Prosecutors were allowed to show that FTX customers lost money.
At the same time, the defense says it was blocked from presenting evidence about FTX’s assets. Those assets, the defense argues, could have eventually repaid customers in full.
The defense describes FTX and Alameda Research as “temporarily illiquid” rather than insolvent. They point to bankruptcy repayments that have since gone out to creditors.
Attorney Jeffrey Fisher told CNN that the loss evidence was “distracting and prejudicial.” He argued it was not required to prove the fraud charges under the legal theory used at trial.
The Forfeiture and Constitutional Claim
The petition raises a second issue. It challenges the $11.02 billion forfeiture as a violation of the Eighth Amendment’s Excessive Fines Clause.
The Second Circuit already rejected this argument once. It ruled that forfeiture law is based on proceeds from criminal conduct, not just the amount victims ultimately lost.
The appeals court also said that Bankman-Fried’s inability to pay the full amount does not make the order unconstitutional on its own.
Much of the Second Circuit’s June decision relied on a 2025 Supreme Court ruling in Kousisis v. United States. That case found fraud convictions do not require proof of intended financial loss.
Applying that precedent, the Second Circuit ruled that Bankman-Fried’s belief in eventual repayment was not a valid defense. The court said the fraud occurred when customer funds were moved without authorization.
The appellate court issued its mandate in August, returning the case to the district court. That step left the conviction, sentence, and forfeiture order in place.
What Happens Next
Filing a Supreme Court petition does not pause Bankman-Fried’s sentence or guarantee a new trial. The Court must first grant certiorari before reviewing the case.
At least four of the nine justices must vote to take up the case. The federal government will also get a chance to respond to the petition.
The justices could grant the petition, deny it, or ask for more briefing. A denial would leave the current conviction and sentence unchanged.
FTX’s bankruptcy estate continues to operate separately from the criminal case. The estate issued nearly $900 million in its fifth creditor distribution in July 2026.
The Supreme Court has not yet set a response deadline or scheduled the petition for conference.
