Sam Bankman-Fried Appeals FTX Fraud Conviction, Citing Judicial Bias and Seeks New Trial

Sep 13, 2024, 08:14 PM

Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, has filed an appeal to overturn his fraud conviction and 25-year prison sentence. The 102-page appeal alleges judicial bias and improper limitations on his defense by US District Judge Lewis A. Kaplan. Bankman-Fried's legal team argues that the jury only saw 'half the picture' due to critical evidence being excluded, and claims he was presumed guilty by the judge. The appeal also criticizes Kaplan's conduct during the trial, including ridiculing Bankman-Fried and signaling disbelief in his testimony. Bankman-Fried is seeking a new trial and targets law firm Sullivan & Cromwell in his appeal. Additionally, Bankman-Fried contends that the FTX bankruptcy estate is in the process of 'making customers whole,' suggesting that financial losses are being addressed. The appeal contests the conviction that he orchestrated an $8 billion fraud involving customer funds.