Sam Bankman-Fried, the former CEO of FTX, has officially appealed his fraud conviction, seeking a new trial and alleging that the judge who oversaw his case was biased against him.
Sam Bankman-Fried’s Appeal
Bankman-Fried’s legal team submitted a detailed 102-page document to the Second Circuit Court of Appeals on September 13, arguing that Judge Lewis Kaplan was “unlawful” throughout the trial. Alexandra Shapiro, Bankman-Fried’s new attorney who replaced the previous legal team, highlighted in the appeal that her client never received the benefit of the presumption of innocence. She argues that Bankman-Fried faced bias from multiple sources—the media and the judicial system—even before formal charges were filed against him.
Conviction and Appeal Process
Bankman-Fried faced conviction in November 2023 on multiple charges related to the collapse of his cryptocurrency exchange, FTX. He received a 25-year prison sentence in March. His initial legal team recommended a lighter sentence of 6.5 years. Meanwhile, the prosecution sought a term of 40–50 years. However, the appeal comes as Bankman-Fried’s former associate, Caroline Ellison, prepares for her sentencing later this month. Ellison, who pleaded guilty to fraud charges and testified against Bankman-Fried, has requested no jail time. Bankman-Fried’s legal team has now taken their arguments to the appeals court. They seek to overturn his conviction and secure a fresh trial.
Crypto News Update
In other cryptocurrency news, many are anticipating a possible rise in Bitcoin price to $60,000. Analysts predict that a market revival could lead to a new bullish trend. Stay tuned for more updates on market developments and fluctuations.
The ongoing legal battle of Sam Bankman-Fried may shift the course of his case. The public eye is on the outcome of the appeal, which could have significant implications for the global perception of the cryptocurrency industry.
Comments