The U.S. Second Circuit Court of Appeals upheld the fraud and conspiracy conviction of FTX founder Sam Bankman-Fried on Friday, rejecting his claims of an unfair trial. The panel ruled that the evidence against him was 'robust' and that the trial judge, Lewis Kaplan, did not commit errors in handling objections or ruling on evidence. Bankman-Fried had argued that he was prevented from presenting key legal arguments and that the court blocked his claim that FTX's investments would eventually succeed. The appeals court dismissed these points, stating that even if assets appreciated, the temporary misappropriation of customer funds constituted fraud. The ruling also supported Judge Kaplan’s decision to exclude arguments about FTX being a margin trading platform, noting that customers did not consent to their funds being transferred to Alameda under false pretenses. Bankman-Fried has also formally requested a pardon from President Donald Trump and is pursuing a separate motion for a new trial.

Key facts

• Second Circuit rejects SBF's appeal, upholding fraud and conspiracy convictions.
• Court says evidence against Bankman-Fried was 'robust', trial fair.
• Argument that investments would grow irrelevant to wire fraud charge.
• Bankman-Fried also seeks pardon from President Trump and new trial.
• Appeals panel supports trial judge's rulings on evidence and arguments.

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