Sam Bankman-Fried appeals FTX fraud conviction, 25-year sentence

Facing a 25-year prison term, Sam Bankman-Fried has appealed his conviction for stealing $8 billion from FTX customers. The ex-billionaire crypto wunderkind’s downfall involved fraud charges and commingling assets. Three former close associates testified as prosecution witnesses against Bankman-Fried, saying he ordered them to use FTX funds to pay Alameda’s debts, make political donations and buy luxury real estate in the Bahamas.