Sam Bankman-Fried Files Appeal For Fraud Conviction (cointelegraph.com)
Posted by BeauHD from the latest-developments dept.
Former FTX CEO Sam Bankman-Fried’s legal team has filed an appeal challenging his conviction on seven felony counts and his 25-year prison sentence. They argue that he was not presumed innocent, that the jury received incomplete information about FTX user funds, and that the prosecution’s narrative was biased. CoinTelegraph reports: In a Sept. 13 filing in the United States Court of Appeals for the Second Circuit, SBF’s lawyers filed a 102-page brief claiming that the former FTX CEO was “never presumed innocent,” subject to scrutiny that allegedly affected prosecutors, the presiding judge, and treatment by the media. Bankman-Fried’s legal team announced in April — a few weeks after a federal judge sentenced him to 25 years in prison — that they intended to appeal. According to the appeal, SBF’s lawyers alleged the jury was “only allowed to see half the picture” with FTX user funds, claiming prosecutors had “presented a false narrative” that the money was permanently lost and Bankman-Fried intentionally caused that loss. They also claimed that counsel for the FTX debtors worked with the US government in a way that was above and beyond “cooperation,” providing information allegedly as an “arm of the prosecution.”
“From day one, the prevailing narrative — initially spun by the lawyers who took over FTX, quickly adopted by their contacts at the US Attorney’s Office — was that Bankman-Fried had stolen billions of dollars of customer funds, driven FTX to insolvency, and caused billions in losses,” said the appeal. “Now, nearly two years later, a very different picture is emerging — one confirming FTX was never insolvent, and in fact had assets worth billions to repay its customers. But the jury at Bankman-Fried’s trial never got to see that picture.” The legal team requested the appellate court grant SBF a new trial with a different judge. It’s unclear whether the Second Circuit could rule to affirm Bankman-Fried’s conviction in the US District Court for the Southern District of New York or reverse the decision and set the groundwork for a new trial.
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