Appeals court denies former crypto mogul Sam Bankman-Fried

June 12 (UPI) -- The conviction of FTX founder Sam Bankman-Fried will stay after an appeals court shot down his bid to overturn his 2023 conviction of fraud.

Bankman-Fried, 34, a former cryptocurrency mogul and CEO, argued that his trial was unfair and that the firm would have paid out to investors in the long term.

Judge Barrington Parker wrote in the ruling that "the government's evidence against him was, conservatively stated, robust," Politico reported.

Bankman-Fried also recently applied for a pardon from President Donald Trump. He was sentenced to 25 years in prison for a scheme that prosecutors called one of the largest financial frauds in U.S. history. In January, Trump told The New York Times that he doesn't plan to pardon Bankman-Fried.

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