US government rejects Sam Bankman-Fried’s conviction appeal US government rejects Sam Bankman-Fried’s conviction appeal
Sam Bankman-Fried's claims of trial bias deemed unfounded by US authorities.
2 min read
Updated: Dec. 19, 2024 at 4:42 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The US authorities have rejected Sam Bankman-Fried‘s appeal to overturn his conviction and sentencing related to the bankrupt FTX collapse.
According to a recent court filing, the government found no merit in his claims, asserting that the jury’s verdict and the trial’s outcome were sound.
Bankman-Fried, the founder of the now-defunct FTX exchange, had sought to overturn his conviction in September at the Second Circuit Court of Appeals. He argued that judicial bias and procedural missteps, particularly by Judge Lewis Kaplan, undermined his trial.
Bankman-Fried claimed the judge’s decisions restricted key defense arguments and limited evidence about his investments. He also suggested that FTX’s financial troubles were overstated, implying customers could still recover their funds.
Based on these assertions, he requested a retrial and reversal of his conviction.
Government rejects appeal
The government, however, dismissed these arguments, stating that Bankman-Fried’s appeal failed to demonstrate any errors or prejudice in the original trial.
They maintained that the court’s decisions were lawful and standard in fraud cases. Specifically, they countered his objection to the “no-ultimate-harm” instruction, emphasizing its well-established role in such cases.
Additionally, the government defended the court’s evidentiary rulings, including the decision to limit testimony about potential losses and the claim that customers would be fully reimbursed. They argued that these claims were both irrelevant and legally improper.
The government also supported the denial of Bankman-Fried’s request to compel third-party Debtors to produce specific files, explaining that the court acted correctly since those files were not in its possession.
The filing stated:
“In any event, because Bankman-Fried received the specific items he sought from the Debtors, and he has not identified any other material evidence he was denied, Bankman-Fried has failed to show an effect on his right to a fair trial.”
Ultimately, the government concluded that Bankman-Fried failed to show any violation of his right to a fair trial, further solidifying their stance that the conviction and sentence should stand.
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FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.