Bankman-Fried challenges $11 billion forfeiture in Supreme Court petition

  • Jeffrey Fisher filed a Supreme Court petition challenging Bankman-Fried’s $11 billion forfeiture.
  • FTX’s repayment plan brought most customer classes to 105% of November 2022 claims.
  • A federal appeals court rejected the defense arguments in June; Supreme Court review remains undecided.

Sam Bankman-Fried’s Supreme Court counsel, Jeffrey Fisher, filed a Sept. 10 petition challenging the roughly $11 billion forfeiture tied to the FTX founder’s sentence. Fisher argues the order is a monetary judgment rather than a recovery of assets Bankman-Fried still holds, and that it would effectively block his future income and leave him in lifelong poverty, violating the Eighth Amendment’s ban on excessive fines. He also says jurors were shown customer-loss figures but were not allowed to hear about the bankruptcy estate’s repayment plan, which brought most customer classes to 105% of claims valued at November 2022 prices. Fisher attributed the repayments in part to FTX’s successful investment in Anthropic. A federal appeals court rejected the defense arguments in June, and the Supreme Court has not said whether it will hear the case.

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