FTX Founder Sam Bankman-Fried appeals his 25-year prison sentence

Sam Bankman-Fried has filed to appeal his fraud and conspiracy charges conviction and sentence.

The FTX founder was convicted last November on seven different charges which included fraud against FTX customers and Alameda Research investors.

FTX filed for bankruptcy the year before. Earlier this month, Bankman-Fried was sentenced to 25 years in federal prison with 3 years of supervised release and a $11 billion forfeiture for his role in the collapse of the exchange.

The sentence was much lower than the 40-50-year sentence requested by federal prosecutors but higher than the 6.5-year sentence Bankman-Fried’s legal team suggested.

Bankman-Fried will be remanded to a low or medium-security prison near his parents in Northern California, with his autism as a risk factor for him in a maximum security facility. It comes as a surprise that Bankman-Fried has asked to be kept in the notorious Manhattan Detention Center during his appeal process.

Bankman-Fried was arrested in the Bahamas in November 2022, shortly after FTX and Alameda – alongside affiliates worldwide – filed for bankruptcy.

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