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Claim review. Fraud

Supported

The cited record supports the material proposition.

FTX's founder was convicted of fraud and conspiracy charges and sentenced to 25 years in prison, and the conviction was upheld on appeal in June 2026.

About
FTX Trading Ltd.
Claim made by
Bloomberg Law, press report
Published
12 June 2026
Original
Sam Bankman-Fried Loses Appeal of Conviction for FTX Fraud (1)
Evidence score
93 How it was scored
Last reviewed
25 October 2026

Why this label

DOJ records the guilty findings on two wire fraud counts and five conspiracy counts and the 25-year sentence with US$11 billion in forfeitureS1. The SDNY statement dates the verdict to 2 November 2023S7. The Supreme Court docket records a Second Circuit judgment of 12 June 2026 in case 24-961S6. Bloomberg reports that the three-judge panel unanimously declined to overturn the verdictS3. The opinion itself was not read. He filed a certiorari petition on 10 September 2026, and the government's response is due on 16 November 2026S6. The claim is supported as of October 2026, but the conviction is not yet beyond further review.

Current procedural position

Convicted after jury trial on 2 November 2023S7, sentenced 28 March 2024S1. Affirmed by the Second Circuit on 12 June 2026. Supreme Court petition No. 26-349 pending, response due 16 November 2026S6.

Record supporting the assessment

was sentenced today to 25 years in prison, three years of supervised release, and ordered to pay $11 billion in forfeiture
S1 Tier A US Department of Justice, Office of Public Affairs, Samuel Bankman-Fried Sentenced to 25 Years for His Orchestration of Multiple Fraudulent Schemes, 28 March 2024
lost his bid to overturn his fraud conviction and 25-year prison sentence
S3 Tier C Bloomberg Law (Bob Van Voris and Ava Benny-Morrison), Sam Bankman-Fried Loses Appeal of Conviction for FTX Fraud (1), 12 June 2026
Petition for a writ of certiorari filed. (Response due October 15, 2026)
S6 Tier A Supreme Court of the United States, Docket No. 26-349, Samuel Bankman-Fried, Petitioner v. United States, 23 October 2026
Motion to extend the time to file a response is granted and the time is extended to and including November 16, 2026.
S6 Tier A Supreme Court of the United States, Docket No. 26-349, Samuel Bankman-Fried, Petitioner v. United States, 23 October 2026

Conflicting or limiting record

No record located that conflicts with this assessment.

Evidence score: 93 of 100

The score grades how well the record establishes this assessment. It is not a score of FTX Trading Ltd.. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?2930DOJ and the Supreme Court docket are tier A. The panel's reasoning rests on press.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1920Both sources state the outcome directly.
CorroborationDo independent records support the same material point?1415DOJ, the court docket and Bloomberg agree.
Procedural accuracyDoes the record settle the procedural state the claim describes?1215Affirmed on appeal with a Supreme Court petition pending.
CurrencyHas the record been checked against later developments?1010Checked against the Supreme Court docket as of 23 October 2026.
ReproducibilityCan a reader locate the passage and repeat the assessment?910The DOJ and court pages are public. Bloomberg Law may need a subscription.
Total93100

Timeline

  1. Jury verdictS7
  2. SentencingS1
  3. Second Circuit judgment affirmingS6S3
  4. Certiorari petition filedS6
  5. Government response deadline extended to 16 November 2026S6

Related cases

  • United States v. Samuel Bankman-FriedUS District Court for the Southern District of New York, US Court of Appeals for the Second Circuit and Supreme Court of the United States. Criminal. No. 24-961 (Second Circuit), No. 26-349 (Supreme Court).Stage: Conviction affirmed by the Second Circuit on 12 June 2026. Certiorari petition pendingS6.
    • Second Circuit judgment declining to overturn the verdictS6S3
    • Supreme Court grants extension of the response time to 16 November 2026S6

Revision history

  • Assessment first published with label Supported.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S1Tier A Samuel Bankman-Fried Sentenced to 25 Years for His Orchestration of Multiple Fraudulent SchemesUS Department of Justice, Office of Public Affairs. Regulator press release. 28 March 2024.Supports the counts of conviction, the sentence, forfeiture and the false statements on customer deposits.Link working, checked 25 October 2026
  2. S3Tier C Sam Bankman-Fried Loses Appeal of Conviction for FTX Fraud (1)Bloomberg Law (Bob Van Voris and Ava Benny-Morrison). Press report. 12 June 2026.Reports the Second Circuit panel ruling and possible further steps. The opinion itself was not read.Link working, checked 25 October 2026
  3. S6Tier A Docket No. 26-349, Samuel Bankman-Fried, Petitioner v. United StatesSupreme Court of the United States. Court judgment. 23 October 2026.Official docket. Gives the Second Circuit case number 24-961, its judgment date of 12 June 2026, and the pending certiorari petition. The date is when the page was generated.Link working, checked 25 October 2026
  4. S7Tier A Statement Of U.S. Attorney Damian Williams On The Conviction Of Samuel Bankman-FriedUS Attorney's Office, Southern District of New York. Government press release. 2 November 2023.Prosecutor statement on the day of the jury verdict. Fixes the conviction date. It does not list the counts.Link working, checked 25 October 2026

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