SBF's Lawyer Claims $1.1 Billion Forfeiture Violates Constitution

Jeffrey Fisher, the lawyer representing former FTX CEO Sam Bankman-Fried (SBF), submitted an appeal to the U.S. Supreme Court on September 10, arguing that a $1.1 billion forfeiture ruling violates the Eighth Amendment of the U.S. Constitution, which prohibits excessive fines. Fisher stated in a radio interview that the $1.1 billion judgment is not a recovery of actual assets but a monetary penalty that would block SBF's future income upon release, effectively condemning him to lifelong poverty.

The lawyer also criticized the trial process, noting that the jury was only shown customer losses while the bankruptcy estate's repayment plan—covering 105% of customer claims through successful investments in Andes and other ventures—was ignored or blocked during proceedings.