Article
【SBF petitioned the U.S. Supreme Court for review, seeking to overturn 11000000000 USD forfeiture order】FTX founder Sam Bankman-Fried (SBF) has filed a petition for a writ of certiorari with the U.S. Supreme Court, asking it to overturn his fraud conviction and rescind the forfeiture order against 11000000000 USD. According to a report by CNN, the petition was filed on September 10, led by Alexandra A.E. Shapiro of Shapiro, Arato, Bach.SBF is currently serving 25 years in prison. The petition presents two central legal questions: first, when a trial court may admit evidence showing whether victims suffered losses when prosecutors proceed under a “fraudulent inducement” theory, under which whether victims suffered economic losses is irrelevant; and second, whether the Eighth Amendment to the U.S. Constitution permits forfeiture or other criminal financial penalties that destroy a defendant’s prospects for earning a living in the future. The defense argues that the trial court erred by allowing prosecutors to imply that customers suffered massive losses while barring the defense from presenting evidence that customers had been repaid. The defense says that FTX and Alameda, although once facing liquidity constraints, always held sufficient assets to ultimately repay investors and customers, who have now been repaid principal and interest in full. 2023,SBF was convicted on multiple counts of fraud and money laundering; in 2024, he was sentenced to 25 years in prison and ordered to forfeit 11000000000 USD. This year, on June, a panel of the U.S. Court of Appeals for the Second Circuit upheld the judgment. The Supreme Court is expected to decide later this year whether to hear the case.