FTX founder Sam Bankman-Fried appealed his 25-year prison sentence and fraud conviction Thursday, two weeks after the disgraced cryptocurrency mogul received his sentence, which included an order to pay $11 billion in forfeiture for his fraudulent schemes.
Bankman-Fried was sentenced in late March. (Photo by Michael M. Santiago/Getty Images)
The appeal, which cost Bankman-Fried $605 to file, could take years and will have to convince the court that U.S. District Judge Lewis Kaplan made errors in his judgment that deprived Bankman-Fried of his legal rights, Reuters reported.
The appeal comes days after the former crypto executive requested he be allowed to remain detained in New York as opposed to California so he could be located near his appeal lawyers.
This is a developing story. Check back for updates.