Sam Bankman-Fried Appeals Conviction, Seeks New Trial
Former FTX CEO Sam Bankman-Fried has filed an attraction looking for a brand new trial, difficult his conviction on a number of grounds. Within the 102-page attraction submitted to the U.S. Court docket of Appeals for the Second Circuit, Bankman-Fried’s lawyer, Alexandra Shapiro, argues that the trial was unfairly dealt with and that crucial proof was excluded.
Shapiro said that Bankman-Fried was thought of responsible on bail, not solely by the media and federal prosecutors but in addition by decide Lewis Kaplan. The lawyer pointed out that the jury had this bias, and it influenced the trial in a method that was prejudicial to Bankman-Fried’s facet.
Attraction Alleges Bankman-Fried Was Barred from Key Proof in Trial
FTX co-founder Bankman-Fried was convicted in November of all of the legal prices, of which there have been seven, of defrauding prospects, lenders, and traders of FTX. The prosecutors painted him as the most important fraudster of the final ten years, evaluating him to Bernie Madoff. He was later apprehended and was sentenced to 25 years in jail.
Within the attraction, Shapiro claims that one thing ‘less than the whole evidence’ was offered to the jury. To the shock of Shapiro, the court docket said that the responsible intent of Bankman-Fried to steal the shopper’s cash was immaterial and subsequently restricted the jury’s notion of the problem. Moreover, she claims that Bankman-Fried was barred from presenting proof that FTX and its hedge fund, Alameda, have been solvent and from discussing how he had relied on authorized recommendation for sure enterprise selections.
Shapiro additionally objects to the prosecution’s presentation of Bankman-Fried’s investments and spending, claiming that the story about cash spent on luxurious items and misplaced capital was unfair. She said that the investments, similar to a $500 million funding in Anthropic and different investments like in Solana, have been inflicting a liquidity downside fairly than a solvency one.
The attraction claims that the prosecution lacked proof and that if Bankman-Fried had his probability within the jury trial, the case towards him would have been dismissed. The FTX property has since regained as much as $16.3 billion value of misplaced funds, thus obscuring the entire image of economic break.
