Lawyers for FTX founder Sam Bankman-Fried filed a notice of appeal of his federal fraud and conspiracy conviction and his 25-year prison sentence.
Bankman-Fried's appeal came two weeks after he was sentenced in U.S. District Court in Manhattan and ordered to pay $11 billion in forfeiture for the massive fraud at theexchange FTX and a related hedge fund, Alameda Research. Prosecutors said it was one of the largest financial frauds in history. Bankman-Fried, 32, was convicted at trial in November of seven fraud and conspiracy counts related to misappropriating around $10 billion in customer money.The Manhattan U.S. Attorney's Office said Bankman-Fried oversaw a conspiracy that looted customer funds to make investments and fund political donations to Democrats and Republicans. He also used the swindled funds for personal expenses and to repay loans taken out by Alameda Research, prosecutors said.
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