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Sam Bankman-Fried

Former cryptocurrency executive who co-founded Alameda Research and founded and led the FTX exchange, and who was convicted of fraud and conspiracy offences in 2023.

PendingLatest source dated 2026-10-15Last reviewed 2026-10-26

What did the court decide?

United States v. Bankman-Fried

On appeal
Court
U.S. District Court, Southern District of New York
Case number
1:22-cr-00673-LAK
Filed
2022-12-09
Parties
United States v. Samuel Bankman-Fried (co-defendants Zixiao (Gary) Wang, Caroline Ellison, Nishad Singh)

Claims. Wire fraud, wire fraud conspiracy, securities fraud conspiracy, commodities fraud conspiracy, money laundering conspiracy.

Decision. Jury verdict of guilty on all seven counts on 2 Nov 2023; sentenced 28 Mar 2024 to 25 years and $11 billion forfeiture; new-trial motion denied 28 Apr 2026.[1, 2, 3, 4, 5]

United States v. Bankman-Fried

Decided
Court
U.S. Court of Appeals for the Second Circuit
Case number
24-961-cr
Filed
2024
Parties
United States (appellee) v. Samuel Bankman-Fried (appellant)

Claims. Appeal of conviction, sentence and forfeiture, arguing trial rulings limited his defence.

Decision. Affirmed on 12 Jun 2026 (opinion by Judge Barrington D. Parker, with Judges Eunice Lee and Maria Araújo Kahn), including the $11 billion forfeiture; mandate issued 4 Aug 2026.[6, 7, 8, 9, 10, 11]

Samuel Bankman-Fried v. United States

Pending
Court
Supreme Court of the United States
Case number
26-349
Filed
2026-09-10
Parties
Samuel Bankman-Fried (petitioner) v. United States (respondent)

Claims. Petition for writ of certiorari to review the Second Circuit judgment of 12 Jun 2026, including the conviction and $11 billion forfeiture.

Decision. No decision; response deadline extended to 16 Nov 2026 (order of 13 Oct 2026).[12]

Securities and Exchange Commission v. Samuel Bankman-Fried

Pending
Court
U.S. District Court, Southern District of New York
Case number
1:22-cv-10501
Filed
2022-12-13
Parties
SEC v. Samuel Bankman-Fried

Claims. Alleged scheme to defraud FTX equity investors; violations of Securities Act s.17(a) and Exchange Act s.10(b)/Rule 10b-5.

Decision. Stayed pending the criminal case (reported Feb 2023); no judgment against Bankman-Fried found.[13, 14]

Commodity Futures Trading Commission v. Bankman-Fried et al.

Pending
Court
U.S. District Court, Southern District of New York
Filed
2022-12-13
Parties
CFTC v. Samuel Bankman-Fried, FTX Trading Ltd., Alameda Research LLC (amended 21 Dec 2022 to add Caroline Ellison and Gary Wang)

Claims. Alleged fraud and material misrepresentations in connection with digital commodity sales.

Decision. Consent order against FTX and Alameda for $12.7 billion entered (announced 8 Aug 2024); claims against Bankman-Fried continuing as of that date.[15, 16, 17]

In re FTX Trading Ltd., et al.

Decided
Court
U.S. Bankruptcy Court for the District of Delaware
Case number
22-11068 (JTD) (Jointly Administered)
Filed
2022-11-11
Parties
FTX Trading Ltd., Alameda Research and affiliated debtors

Claims. Voluntary Chapter 11 cases of the FTX Group.

Decision. Plan approved by Judge John T. Dorsey at a hearing on 7 Oct 2024; order confirming the Second Amended Joint Chapter 11 Plan entered 8 Oct 2024; distributions to creditors made by the FTX Recovery Trust through 2026.[18, 19, 20, 21, 22]

Sources

  1. USA v. Bankman-Fried, 1:22-cr-00673-LAK docket sheetU.S. District Court S.D.N.Y. (via Miller & Chevalier), 2023, primary source
  2. Statement Of U.S. Attorney Damian Williams On The Conviction Of Samuel Bankman-FriedU.S. Attorney's Office, S.D.N.Y., 2023-11-02, primary source
  3. Samuel Bankman-Fried Sentenced to 25 Years for His Orchestration of Multiple Fraudulent SchemesU.S. Department of Justice, Office of Public Affairs, 2024-03-28, primary source
  4. Judge rejects Sam Bankman-Fried's new trial requestThe Block, 2026-04-28, secondary source
  5. Judge denies new trial for Sam Bankman-FriedCointelegraph, 2026-04-28, secondary source
  6. Appeals court upholds FTX co-founder Sam Bankman-Fried's fraud convictionInvestment Executive (AP report), 2026-06-12, secondary source
  7. Second Circuit denies Sam Bankman-Fried's bid to overturn FTX crypto fraud convictionCourthouse News Service, 2026-06-12, secondary source
  8. U.S. v. Bankman-Fried, No. 24-961-cr (2d Cir. June 12, 2026) case summaryAmerican Bankruptcy Institute (VOLO), 2026-06, secondary source
  9. Second Circuit affirms SBF fraud conviction, 25-year sentenceThe Defiant, 2026-06-12, secondary source
  10. Sam Bankman-Fried (SBF) Appeal Mandate Issued, Only One Strand of Hope LeftBeInCrypto, 2026-08-04, secondary source
  11. US appellate court files mandate in Sam Bankman-Fried caseCointelegraph, 2026-08-06, secondary source
  12. Docket No. 26-349, Samuel Bankman-Fried v. United StatesSupreme Court of the United States, 2026-10-15, primary source
  13. Litigation Release No. 25616, SEC v. Samuel Bankman-FriedU.S. Securities and Exchange Commission, 2023-01-19, primary source
  14. Judge halts SEC, CFTC cases until Bankman-Fried's criminal trial concludesDecrypt, 2023-02-14, secondary source
  15. CFTC Release No. 8638-22 (charges against Bankman-Fried, FTX Trading and Alameda Research)U.S. Commodity Futures Trading Commission, 2022-12-13, primary source
  16. CFTC Release No. 8644-22 (amended complaint adding Caroline Ellison and Zixiao 'Gary' Wang)U.S. Commodity Futures Trading Commission, 2022-12-21, primary source
  17. CFTC Release No. 8938-24 ($12.7 billion judgment against FTX and Alameda)U.S. Commodity Futures Trading Commission, 2024-08-08, primary source
  18. FTX Group Files for BankruptcyRopes & Gray LLP, 2022-11-11, secondary source
  19. Order Confirming the Second Amended Joint Chapter 11 Plan of Reorganization of FTX Trading Ltd. and Its Debtor Affiliates (Case No. 22-11068)U.S. Bankruptcy Court, District of Delaware (via PwC Bahamas), 2024-10-08, primary source
  20. US bankruptcy judge approves FTX reorganization plan, two years after the exchange's collapseThe Block, 2024-10-07, secondary source
  21. FTX Sets Next Distribution Date and Amends Proposed Disputed Claims Reserve ReductionFTX Trading Ltd. and FTX Recovery Trust (Cision release), 2026-05-26, primary source
  22. FTX to distribute millions to creditors in fifth payment roundCointelegraph, 2026-07-17, secondary source

Change history

  • 2026-10-26 Record published.

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