The US Court of Appeals for the Second Circuit has issued an official mandate upholding Sam Bankman-Fried's conviction on seven counts of fraud and conspiracy. The ruling, signed by Catherine O’Hagan Wolfe on August 4, 2026, solidifies his 25-year prison sentence and $11 billion forfeiture. Bankman-Fried's remaining legal options are now limited to a US Supreme Court petition or a presidential pardon, the latter of which faces bipartisan opposition from US Senators Cynthia Lummis and Ruben Gallego.
Second Circuit appeal mandate
- ▪The US Court of Appeals for the Second Circuit issued an appeal mandate on August 4, 2026, officially closing Sam Bankman-Fried's case at that court.
- ▪The three-judge panel that issued the mandate consisted of Barrington D. Parker, Eunice C. Lee, and Maria Araújo Kahn.
- ▪The Second Circuit's mandate, registered as entry 77 in case No. 24-961, was signed by clerk of court Catherine O’Hagan Wolfe and affirmed the district court's judgment.
SBF conviction upheld
- ▪The appellate court rejected Sam Bankman-Fried's defense that he lacked intent to cause economic loss, ruling that fraud occurred when customer funds were transferred to Alameda.
- ▪The appellate court maintained the approximately $11 billion forfeiture order imposed on Sam Bankman-Fried by Judge Lewis Kaplan in March 2024.
- ▪The federal appeals court upheld Sam Bankman-Fried's conviction on seven counts of fraud and conspiracy and his 25-year prison sentence.
Supreme Court petition option
- ▪A petition for a writ of certiorari to the US Supreme Court must generally be filed within 90 days of the judgment.
- ▪Following the issuance of the appeal mandate, Sam Bankman-Fried's only remaining judicial option is to petition the US Supreme Court for a writ of certiorari.
Presidential pardon application
- ▪US Senators Cynthia Lummis and Ruben Gallego introduced a resolution expressing opposition to any potential pardon for Sam Bankman-Fried.
- ▪Sam Bankman-Fried has filed a separate pardon application with the US Justice Department.
FTX creditor repayments
- ▪FTX creditors received a fifth round of repayments at the end of July 2026 while the legal proceedings against Sam Bankman-Fried continued.
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