New Developments in Sam Bankman-Fried’s Appeal Case
Recent court filings reveal that the US authorities have rejected Sam Bankman-Fried‘s appeal to overturn his conviction and sentencing related to the bankrupt FTX collapse. This decision comes after Bankman-Fried, the founder of the now-defunct FTX exchange, sought to overturn his conviction in September at the Second Circuit Court of Appeals.
Bankman-Fried had argued that judicial bias and procedural missteps, particularly by Judge Lewis Kaplan, undermined his trial. He claimed that the judge’s decisions restricted key defense arguments and limited evidence about his investments. Additionally, he suggested that FTX’s financial troubles were overstated, implying that customers could still recover their funds. Based on these assertions, he requested a retrial and reversal of his conviction.
Government’s Response
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. In response to his objection to the “no-ultimate-harm” instruction, the government emphasized its well-established role in such cases.
Furthermore, 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.
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.
Conclusion
Despite Bankman-Fried’s efforts to appeal his conviction and sentencing, the US authorities have upheld the original verdict. This decision marks a significant development in the ongoing legal battle surrounding the FTX collapse and its aftermath.