Sam Bankman-Fried loses appeal to overturn FTX fraud ruling

Sam Bankman-Fried has lost his appeal to overturn his fraud conviction and 25-year prison sentence linked to the collapse of FTX. The court said he misled customers, investors, and regulators while assuring them FTX funds were safe even as he treated the exchange like a 'personal piggy bank'. He was convicted on seven felonies by a Manhattan jury in 2023.