Former FTX CEO Sam Bankman Fried returns to court seeking new trial after FTX fraud conviction
Former FTX CEO Sam Bankman-Fried is back in court to appeal his fraud conviction and seek a new trial.Summary
Jailed former FTX CEO Sam Bankman-Fried has returned to court to seek a new trial following his November 2023 conviction on all seven counts of defrauding FTX customers, lenders, and investors, which resulted in a 25-year prison sentence. His appeal, filed in September 2024, criticizes Judge Lewis Kaplan's handling of the case, specifically arguing that Bankman-Fried should have been allowed to introduce evidence supporting his defense that he relied on counsel. Legal experts suggest the defense faces a steep uphill battle, noting that appellate courts typically grant trial judges considerable flexibility. The court is expected to issue an opinion in the coming months. Meanwhile, Bankman-Fried's parents are reportedly seeking a pardon from President Donald Trump, though his chances appear slim given his past political donations. Ahead of the hearing, Bankman-Fried claimed on X that FTX and Alameda Research were never insolvent and could have repaid customers after the 2022 liquidity crisis.
(Source：The Block)