The Latest Breaking News from Lewis Kaplan

Former billionaire crypto trader Sam Bankman-Fried has filed an appeal against his fraud conviction and 25-year jail sentence for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded in one of the biggest financial frauds in the history of the United States, which impacted victims all…

Bankman-Fried faces steep odds in bid to overturn conviction stemming from the collapse of his cryptocurrency exchange.

Fallen cryptocurrency wunderkind Sam Bankman-Fried has appealed his federal conviction and 25-year jail sentence in a sweeping fraud case, according to a legal filing made public Thursday.

Sam Bankman-Fried has been slapped with a 25-year sentence for defrauding numerous individuals who believed in his fake crypto empire, but many are unhappy with the "short" sentence. Others are demanding that all the donations he made to political campaigns be returned.

US District Judge Lewis Kaplan said the defendant, who became known by his initials "SBF," had shown no "real remorse."

US District Judge Lewis Kaplan said the defendant, who became known by his initials "SBF," had shown no "real remorse," even in his final pre-sentencing remarks in which the former billionaire rued "a series of bad decisions" but did not acknowledge knowingly violating financial laws.

He was convicted of charges including wire fraud, conspiracy to commit money laundering, and using customer funds for personal expenses such as real estate and political donations.

The disgraced mogul will likely be behind bars for decades.

"He knew it was wrong. He knew it was criminal," Judge Lewis Kaplan said of the convicted crypto fraudster

Bankman-Fried, 32, sentenced for fraud on customers of the FTX cryptocurrency exchange he founded.

Judge Kaplan sentences Bankman-Fried to 25 years in prison for financial crimes, highlighting lack of remorse and risk of reoffending.