1. Reasons for Conviction and Appeal
2. Key Witness Testimonies and Defense Actions
3. Defense Arguments in Appeal

FTX founder Sam Bankman-Fried is appealing his recent fraud conviction just six months into his 25-year prison sentence. In his appeal, he claims judicial bias and is requesting a new trial.

Reasons for Conviction and Appeal

In November, a New York jury found Sam Bankman-Fried guilty on seven charges of fraud and conspiracy related to the collapse of his cryptocurrency exchange in 2022. By March, U.S. District Judge Lewis Kaplan from the Southern District of New York handed him a 25-year prison sentence. In the detailed appeal, Bankman-Fried's defense team argued that Judge Kaplan's conduct during the trial was unfair. They claim that the judge made 'cutting remarks' that undermined their case and ridiculed Bankman-Fried's testimony in front of the jury.

Key Witness Testimonies and Defense Actions

Several of Sam Bankman-Fried’s inner circle, including his former girlfriend Caroline Ellison, Nishad Singh, Gary Wang, and Ryan Salame, testified against him during the trial while pleading guilty to their own fraud-related charges. Salame received a 7.5-year prison sentence in May, while Ellison’s sentencing is pending later this month. Bankman-Fried’s defense has largely hinged on the argument that FTX’s customer funds have been largely recovered. He has repeatedly claimed that the exchange was never actually insolvent and that he was prematurely pushed into bankruptcy by the estate's management.

Defense Arguments in Appeal

The appeal claims that key defense arguments were blocked by the judge. Alexandra Shapiro, who took over after the trial from his previous attorneys Mark Cohen and Christian Everdell, pointed out that evidence of Bankman-Fried’s successful investments was not allowed. The appeal also raised concerns about procedural errors, accusing the judge of imposing an 'unlawful' forfeiture and denying Bankman-Fried access to exculpatory evidence. The defense also argues that the Department of Justice had closer ties to the bankruptcy estate than they were allowed to have, yet used this to prevent Bankman-Fried from accessing potential exculpatory materials.

The fate of Sam Bankman-Fried now lies in the hands of the Second Circuit Court of Appeals, which will review his complaint. If successful, the case may take a new turn and be reconsidered.