Legal Status Profiles

Records

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.

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

What is Sam Bankman-Fried’s legal position?

Federal criminal prosecution (FTX/Alameda fraud), S.D.N.Y.

Convicted

Current position. Convicted and serving a 25-year sentence; the conviction was affirmed by the Second Circuit on 12 Jun 2026 and a certiorari petition (No. 26-349) is pending at the U.S. Supreme Court, with the government's response due 16 Nov 2026. A reported clemency application has not been granted.[1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16]

Authority
U.S. Attorney's Office, Southern District of New York; U.S. District Court S.D.N.Y.; U.S. Court of Appeals for the Second Circuit; U.S. Supreme Court
Status date
2026-10-13

History

  1. 2022-12-09 Criminal case 1:22-cr-00673 filed in S.D.N.Y. (later assigned to Judge Lewis A. Kaplan).
  2. 2022-12 Arrested in The Bahamas at U.S. request; extradited to the United States on 21 Dec 2022.
  3. 2023-11-02 Jury found him guilty on all seven counts (wire fraud x2, wire fraud conspiracy x2, securities fraud conspiracy, commodities fraud conspiracy, money laundering conspiracy).
  4. 2024-03-28 Sentenced to 25 years in prison, three years of supervised release, and $11 billion forfeiture.
  5. 2026-04-28 Judge Kaplan denied his February 2026 motion for a new trial.
  6. 2026-06-12 Second Circuit (No. 24-961-cr; opinion by Judge Barrington D. Parker, with Judges Eunice Lee and Maria Araújo Kahn) affirmed the district court judgment, rejecting challenges to the conviction and the $11 billion forfeiture.
  7. 2026-06-08 Reported that a clemency application ('pardon after completion of sentence') is listed by the DOJ Office of the Pardon Attorney; the White House declined comment and pointed to a January 2026 interview in which Trump said he would not pardon him. No grant has been reported.
  8. 2026-08-04 Second Circuit issued its mandate.
  9. 2026-09-10 Filed petition for a writ of certiorari, Supreme Court No. 26-349 (docketed 15 Sep 2026).
  10. 2026-10-13 Supreme Court extended the government's response deadline to 16 Nov 2026.

SEC civil enforcement action (FTX equity investors)

Allegation

Current position. Civil allegations, stayed pending the criminal case as reported in Feb 2023; no judgment against Bankman-Fried personally was found in sources reviewed.[17, 18, 19]

Authority
U.S. Securities and Exchange Commission; U.S. District Court S.D.N.Y.
Status date
2023-02

History

  1. 2022-12-13 SEC filed complaint (No. 1:22-cv-10501) alleging violations of Securities Act s.17(a) and Exchange Act s.10(b)/Rule 10b-5.
  2. 2023-02 SEC and CFTC civil cases against him reported stayed until the criminal case concludes.
  3. 2025-12-19 SEC filed proposed consent judgments against Ellison, Wang and Singh in separate related SEC cases (Nos. 1:22-cv-10794 and 1:23-cv-01691); these do not involve Bankman-Fried as a party.

CFTC civil enforcement action (FTX/Alameda)

Allegation

Current position. As of the CFTC's August 2024 release, the case against Bankman-Fried personally remained in litigation; no later resolution was found.[20, 21, 22, 18]

Authority
U.S. Commodity Futures Trading Commission; U.S. District Court S.D.N.Y.
Status date
2024-08-08

History

  1. 2022-12-13 CFTC filed complaint against Bankman-Fried, FTX Trading Ltd. and Alameda Research LLC; amended on 21 Dec 2022 to add Caroline Ellison and Gary Wang.
  2. 2024-08-08 Consent order of $12.7 billion ($8.7bn restitution, $4bn disgorgement) entered against FTX and Alameda; litigation continued against individual defendants including Bankman-Fried.

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. Bahamas hands over FTX founder to the US to face chargesAssociated Press (via WTMJ), 2022-12-21, secondary source
  5. U.S. Attorney Announces Extradition Of FTX Founder Samuel Bankman-Fried To The United StatesU.S. Attorney's Office, S.D.N.Y., 2022-12-22, primary source
  6. Judge rejects Sam Bankman-Fried's new trial requestThe Block, 2026-04-28, secondary source
  7. Judge denies new trial for Sam Bankman-FriedCointelegraph, 2026-04-28, secondary source
  8. Appeals court upholds FTX co-founder Sam Bankman-Fried's fraud convictionInvestment Executive (AP report), 2026-06-12, secondary source
  9. Second Circuit denies Sam Bankman-Fried's bid to overturn FTX crypto fraud convictionCourthouse News Service, 2026-06-12, secondary source
  10. U.S. v. Bankman-Fried, No. 24-961-cr (2d Cir. June 12, 2026) case summaryAmerican Bankruptcy Institute (VOLO), 2026-06, secondary source
  11. Second Circuit affirms SBF fraud conviction, 25-year sentenceThe Defiant, 2026-06-12, secondary source
  12. Sam Bankman-Fried (SBF) Appeal Mandate Issued, Only One Strand of Hope LeftBeInCrypto, 2026-08-04, secondary source
  13. US appellate court files mandate in Sam Bankman-Fried caseCointelegraph, 2026-08-06, secondary source
  14. Docket No. 26-349, Samuel Bankman-Fried v. United StatesSupreme Court of the United States, 2026-10-15, primary source
  15. Sam Bankman-Fried asks Trump for a pardonCNN (via ABC17 News), 2026-06-08, secondary source
  16. Sam Bankman-Fried applies for pardonWashington Examiner, 2026-06-08, secondary source
  17. Litigation Release No. 25616, SEC v. Samuel Bankman-FriedU.S. Securities and Exchange Commission, 2023-01-19, primary source
  18. Judge halts SEC, CFTC cases until Bankman-Fried's criminal trial concludesDecrypt, 2023-02-14, secondary source
  19. Litigation Release No. 26450, Caroline Ellison, Gary Wang, and Nishad SinghU.S. Securities and Exchange Commission, 2025-12-19, primary source
  20. 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
  21. 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
  22. CFTC Release No. 8938-24 ($12.7 billion judgment against FTX and Alameda)U.S. Commodity Futures Trading Commission, 2024-08-08, primary source

Change history

  • 2026-10-26 Record published.

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