Supreme Court to Define Fraud Loss Requirement

Sam Bankman‑Fried asked the U.S. Supreme Court to revisit whether a fraud conviction can rest without proving that victims actually lost money, and whether a defendant must be allowed to introduce evidence showing investments would have covered losses. The petition also challenges an $11 billion forfeiture as an excessive fine under the Eighth Amendment. — A decision could rewrite prosecutorial theory in fraud cases (especially in complex financial and crypto prosecutions) and limit punitive forfeitures against corporate founders.