Sam Bankman-Fried loses appeal of fraud conviction in FTX case

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Sam Bankman-Fried's appeal of his fraud conviction in the FTX collapse has been rejected by a federal court. The decision came the same week the disgraced crypto executive submitted an application for a presidential pardon, a long-shot bid to overturn his sentence. Bankman-Fried was convicted last year of wire fraud, money laundering, and other crimes after his cryptocurrency exchange spectacularly imploded in 2022, costing customers billions. The appellate ruling upholds the original conviction, leaving his pardon application as his primary remaining legal avenue.