Former FTX CEO Sam Bankman-Fried has filed an appeal and requested a retrial.
Attorneys representing Bankman-Fried have criticized New York District Judge Louis Kaplan’s handling of the case, saying the former executive should not have been blocked from producing certain evidence.
“He was presumed guilty before he was indicted. He was presumed guilty by the media. He was presumed guilty by the FTX Debtors Estate and its attorneys,” Bankman-Fried’s attorneys wrote in the 102-page appeal. “He was presumed guilty by federal prosecutors desperate for a quick headline. And he was presumed guilty by the judge who presided over his trial.”
The appeal was filed with the United States Court of Appeals for the Second Circuit.
Bankman-Fried was convicted by a New York jury in November of all seven criminal counts for defrauding FTX customers, lenders, and investors. Prosecutors said Bankman-Fried orchestrated “the largest fraud of the last decade,” comparing him to Ponzi scheme mastermind Bernie Madoff. He was later sentenced to 25 years in prison.
This is an ongoing story.
Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.
© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.
About the Author
Sarah is a reporter covering policy, regulation, and legal issues for The Block. Previously, Sarah was a securities regulation reporter at CQ Legal, where she first began reporting on cryptocurrencies. Sarah has also written for other financial publications, including The Bond Buyer and American Banker. She graduated from the University of Missouri with a degree in print and digital journalism. Sarah lives in Washington, D.C., and is an avid coffee drinker. You can follow her on Twitter @ForTheWynn.