A US appeals court has formally closed Sam Bankman-Fried’s challenge to his criminal case, issuing its mandate on Aug. 4 in the former FTX chief executive’s appeal. The order leaves in place the June 12 decision that upheld both his fraud convictions and his 25-year prison sentence.

The one-page filing from the Second Circuit does not add any fresh analysis. Instead, it finalizes the appellate court’s earlier ruling and means Bankman-Fried’s remaining judicial path is a petition to the US Supreme Court.

A brief order that finalizes the case

The mandate was logged as entry 77 in case No. 24-961 at the US Court of Appeals for the Second Circuit. It lists the three judges who heard the appeal: Barrington D. Parker, Eunice C. Lee and Maria Araújo Kahn.

Its operative language is direct, stating that the judgment of the district court is affirmed. The order was signed for the panel by clerk of court Catherine O’Hagan Wolfe, and a stamp on the document records that the mandate issued on 08/04/2026.

What the June 12 ruling already decided

The key legal issues had already been resolved nearly two months earlier. On June 12, the appellate panel rejected Bankman-Fried’s appeal, leaving intact his seven-count conviction tied to the collapse of FTX and also preserving the sentence imposed by Judge Lewis Kaplan in March 2024.

Writing for the panel, Judge Parker said the jury had heard evidence that Bankman-Fried publicly assured customers, investors and regulators that FTX customer funds were safe while at the same time using the exchange as a “personal piggy bank” for real estate, political contributions and investments.

The June ruling also left standing the roughly $11 billion forfeiture. According to the panel, Congress may link forfeiture to a defendant’s gains. Separately, Kaplan had already denied a retrial motion in April.

Only one judicial option remains

With the mandate now issued, the appellate phase is over. Bankman-Fried may still ask the US Supreme Court to review the case by filing a petition for a writ of certiorari, typically within 90 days of judgment.

That route is narrow. The Supreme Court accepts only a small share of petitions, making it the last remaining court-based option identified in the case after the Second Circuit’s mandate.

Parallel efforts continue outside the appeal

The court order affects the criminal appeal, but other developments tied to Bankman-Fried and FTX remain on separate tracks. He has also filed a pardon application with the Justice Department.

At the same time, lawmakers have responded to that possibility. Senators Cynthia Lummis and Ruben Gallego introduced a resolution opposing any pardon for Bankman-Fried.

Meanwhile, FTX creditor repayments have continued independently of the appeal. Creditors received a fifth round of repayments at the end of July, while the criminal judgment and forfeiture remain in place unless the Supreme Court agrees to take up the case.

Source: beincrypto.com